egafd.com

David Johnson wrote:

> "Sir Phillip Green is not a tax avoider"
>
> Totally wrong.
>
> "he lives in Britain and pays his taxes here."
>
> Totally correct.
>
> "On the other hand, Lady Green, who gets all the dividends,
> lives in Monaco because she is a big Grand Prix fan."
>
> Hang on a mo while I piss myself laughing. So its nothing to
> do with the Monaco tax regime then?
>
> Okay let me lead you back to reality, Robches.
>
> Philip Green is not a non-dom. He lives in the UK. He works in
> the UK. He pays tax on his salary in the UK. All seems to be in
> order. Until you realise that Philip Green does not actually
> own any of the Arcadia group that he spends every day running.
> Instead, it is in the name of his wife who has not done a
> single day?s work for the company. Mrs Green lives in Monaco,
> where she pays not a penny of income tax. In 2005 Philip Green
> awarded himself ?1.2bn, the biggest paycheck in British
> corporate history. But this dividend payout was channeled
> through a network of offshore accounts, via tax havens in
> Jersey and eventually to Green?s wife?s Monaco bank account.
> The dodge saved Green, and cost the tax payer, close to ?300m.
> This tax arrangement remains in place. Any time it takes his
> fancy, Green can pay himself huge sums of money without having
> to pay any tax.
>
> This Robches is known as tax avoidance, allowed by the Labour
> government and with ongoing support from the coalition.


David,

You are a funny guy. You must kill them at your local Marxist-Leninst Peoples' Comedy Club.

David Johnson wrote:

> "All these so-called "loopholes" have been specifically created
> over the years by politicians for the benefit of their rich
> cronies - the Philip Greens and Richard Bransons of this world
> - with whom they are in deep cahoots".
>
>
> This is wrong. HMRC provide guidelines as to what is
> acceptable in tax terms e.g. self-employed plumber offsetting
> the cost of his tools against income.
>
> There is a multi billion tax avoidance industry that has grown
> up in banks, tax consultancies, "tax advisers" etc. to come up
> with ever more convoluted ways of paying next to no tax but
> still stay the right side of the law. The likes of Green pay
> millions for this kind of advice. These loopholes are not
> "created " by politicians, but are found by these tax
> consultancies putting in huge, expensive resources to come up
> with ever more complex loopholes.
>
> The failure of government is in not putting in enough resources
> to close down these loopholes quickly enough and converting
> them from tax avoidance scams to tax evasion scams.

These "loopholes" only exist because the tax code is so complicated. Gordon Brown doubled it, and Osborne has made it worse. No human being could begin to understand all of it, so "loopholes" are inevitable. The only way to solve the problem is to simplify the tax code and reduce taxes.

"You are a funny guy. You must kill them at your local Marxist-Leninst Peoples' Comedy Club."

Hey well at least I've given you an understanding about tax avoidance which you clearly never had before.

I note it is easier for you to come back with a dumb quip rather than admit that you were talking out your arse.

David Johnson wrote:

> "You are a funny guy. You must kill them at your local
> Marxist-Leninst Peoples' Comedy Club."
>
> Hey well at least I've given you an understanding about tax
> avoidance which you clearly never had before.
>
> I note it is easier for you to come back with a dumb quip
> rather than admit that you were talking out your arse.

Your sense of humour knocks me out comrade. Tell me the one about the kulaks again.

As someone who has been fucked over by HMRC I couldn't agree more about simplifying the tax system. The problem is that HMRC are scared shitless of reducing their power.
I think a revolution with shedloads of tax inspectors hanging from lamp posts around the country would be a good start.

This is where content share comes in handy lol!