Exactly right.
What would be tax evasion by ordinary folk magically becomes avoidance for the wealthy by purposely being made legal.
Asylum seekers accommodation - Did I hear these numbers correctly?
- Thread starter Mottie
- Start date
What would be tax evasion by ordinary folk magically becomes avoidance for the wealthy by purposely being made legal.
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It's true the rich use their money to influence politicians to ensure they keep their money.
It's true that if the public can be manipulated to vote in governments that deregulate then the rich would be foolish not to take advantage.
I'm sure the owner of an independent coffee shop is happy their big chain competitor pays no tax.
And I quote........The Ramsey principal.
"The Ramsay principal was established over 35 years ago. It began a clear line of legal authority on how the courts will consider the legality of tax avoidance schemes that remains in effect today and has been confirmed in a number of high profile cases since.
Yet tax advisors, lawyers and accountants have continued to construct and market tax avoidance schemes that are obviously unlawful, claiming that they are in fact “legal”.
Is it really possible that these advisors are unaware of the legal risks they are creating for their clients? Or is it the case that many tax advisors, including leading firms of accountants, are engaging in a giant mis-selling scam.
After all, when these schemes are challenged, it is the clients and not the advisors that are left with a large bill and a penalty to pay, the advisors keep their fees.
There will be little sympathy for large corporations left in this position, but for individuals who may have been tempted by the idea of a “legal” tax reduction, the impacts of a large unexpected tax bill can be devastating.
Economic transactions, including taxes, do have real world effects, and for that reason it is important that journalists, politicians, researchers and others with a voice do not spread the myth that tax avoidance is all perfectly legal."
You just posting something does not make something a fact. And,
Picking arguments to make yourself seem more clued - up is your thing.
Knock
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You miss the point.
If the "tax avoidance method" is not legal, then it is not tax avoidance but tax evasion.
It is not my point, I merely quoted the Ramsey principal.
Avoidance/evasion........Semantics............Try illegal/legal, that is all that matters.
There are instances where loopholes are closed and avoidance (under HMRC scrutiny) has become evasion.
E
EddieM
Hmmm, yes HMRC sometimes get a bit above themselves and attempt to apply these revisions retrospectively, regardless of whether you agreed with said previous legal loophole, applying retrospectively is IMO unfair.
Exactly, weren't there a few 'legit' schemes that footballers were involved in that were eventually outlawed.
This is so simple, Tax avoidance can be illegal or legal.
Those two words are not at all definitive.
Oh dear......... If you avoid paying for your shopping, that is theft.
If you evade paying for your shopping that is theft
Irrelevant. You will be prosecuted for theft - not payment avoidance or payment evasion.
I suppose you will have to find a case of someone who was prosecuted for tax avoidance.
I suppose you will have to find a case of someone who was prosecuted for tax avoidance.
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