The point is tax loopholes are only open to the super rich
If you've ever been self employed you'll know, you can't avoid tax.
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Rebel biscuit stercore sumus et nos esse novimus, Sat 21 Feb 2015, 13:02,
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Tax loopholes are open to everyone who pays tax
Put your savings into tax-avoiding ISA's
Put as much of your income into a pension scheme as you can.....but make sure it is one that returns all your fund to your beneficiaries (inheritance tax exempt ) if you die before retiring (company pension schemes often dont ).
Buy the most expensive house you can afford ( CGT exempt when you sell it )
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CanonCaliber A big bore, Sat 21 Feb 2015, 13:53,
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You've missed the point
Putting money into an ISA or pension scheme is the INTENDED function of those tax breaks, they are not 'loopholes'.
A tax avoidance scheme uses *unintentional* loopholes in tax law, and hence they are in effect cheating the system because the government did not intend that they be excused tax.
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notoolsovernight you're all luvvly an' 'orrible, Sat 21 Feb 2015, 14:59,
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There's no such thing as "unintended"
All the loopholes were put in the tax laws deliberately by the polititions etc to benefit their pals.....not supposed to be used by the others.
It's like all the software flaws are put there deliberately to allow govt intrusions .....not meant to be used by hackers.
"Security updates " do 2 jobs, 1) plug the flaw being used by hackers and 2) open up a brand new flaw for govt intrusions
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CanonCaliber A big bore, Sat 21 Feb 2015, 17:38,
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Yes and no. This is a tinfoil territory.
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omnitruncatedkraken from Empire Algol, Sat 21 Feb 2015, 19:25,
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Seriously?
Tax law is ferociously complicated and corporate tax law is complexity squared. Add to that the fact that the resources of tax dodgers are far in excess of what is available to the legislators, it comes as no surprise that loopholes can always be found. Were the loopholes put there intentionally? It is a bit like Bertrand Russell's teapot, there is no way of disproving it, however it is somewhat unlikely. Government departments are disorganised and dysfunctional and at best they struggle to perform the tasks they are allocated, adding some tinfoil hat hidden agenda conspiracy would be utterly impractical.
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notoolsovernight you're all luvvly an' 'orrible, Sun 22 Feb 2015, 15:57,
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You sound like Milliband's spokesperson.
That's another one of the lies spouted around this subject. A deed of variation is the perfect example of what utter bullshit that is. All you need is to own a property and write a will and you can have the beneficiaries of your will dodge tax too.
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Prufrock Lucifer, son of the morning!, Sat 21 Feb 2015, 13:54,
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"all you need is to own a propety"
lol
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Rebel biscuit stercore sumus et nos esse novimus, Sat 21 Feb 2015, 15:54,
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Ok, point taken
but property ownership doesn't make someone super rich. I own a flat in London and I don't really have a pot to piss in. If I'd stuck to renting I'd have a better car, nicer clothes and just more clothes, and I'd be much better travelled, but it seemed like the right thing to do at the time.
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Prufrock Lucifer, son of the morning!, Sat 21 Feb 2015, 16:10,
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do you get to pay 0% tax like google, starbucks, amazon etc?
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Rebel biscuit stercore sumus et nos esse novimus, Sat 21 Feb 2015, 20:29,
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no but you'd get some old bitch come to inspect the property every 3 months
and moan at you for committing the heinous crime of putting up a poster using Blu Tac!
My mortgage repayments are cheaper than if I rented a property of a similar size. In fact I'd be lucky to afford flat in one of the more "entertaining" areas of my town
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h3donist tryin' to play me out as if my name is Sega.., Sat 21 Feb 2015, 20:32,
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