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Newbury Today Forum _ Newbury News _ Peasemore Mum defends Prime Minister
Posted by: gel Apr 11 2016, 07:07 AM
In Oxon papers:
http://www.oxfordmail.co.uk/news/14417453.Prime_Minister_David_Cameron_s_mum_defends_his_tax_record/
Posted by: On the edge Apr 11 2016, 08:18 AM
http://www.oxfordmail.co.uk/news/14417453.Prime_Minister_David_Cameron_s_mum_defends_his_tax_record/
Of course, not one of his constituents have ever done anything remotely similar.
I can see its going to start getting pretty difficult once we start looking at the morality of our financial transactions.....what about all the profits taken when ex tenants buy and flog off their former Council houses, or those that took a wadge when the mutuals lost their way,.....I know, I know, that's different ain't it!
Posted by: Turin Machine Apr 11 2016, 08:36 AM
*Let he who is without sin"
Posted by: Simon Kirby Apr 11 2016, 05:08 PM
I can see its going to start getting pretty difficult once we start looking at the morality of our financial transactions.....what about all the profits taken when ex tenants buy and flog off their former Council houses, or those that took a wadge when the mutuals lost their way,.....I know, I know, that's different ain't it!
I've been thinking the same.
Posted by: Simon Kirby Apr 11 2016, 05:09 PM
I prefer "shoot the lot of 'em, let God sort them out".
Posted by: Andy Capp Apr 11 2016, 05:54 PM
With the risk of sounding boring, I too thought the same, but of course, some people don't have the luxury to be able to self manage how they pay tax.
Posted by: gel Apr 11 2016, 06:15 PM
as http://www.biography.com/people/leona-helmsley-9334418#rise-to-power,
serial tax avoider used to say "only the little people pay tax"".
Posted by: Turin Machine Apr 11 2016, 11:49 PM
I think you mean "Caedite eos. Novit enim Dominus qui sunt eius"
Posted by: Simon Kirby Apr 12 2016, 06:01 AM
Always good to hear the Church speaking out on social issues.
Posted by: Turin Machine Apr 12 2016, 09:23 AM
Sorted the issue though, to the point one might say
Posted by: spartacus Apr 12 2016, 06:10 PM
I can see its going to start getting pretty difficult once we start looking at the morality of our financial transactions.....what about all the profits taken when ex tenants buy and flog off their former Council houses, or those that took a wadge when the mutuals lost their way,.....I know, I know, that's different ain't it!
I think I should declare that I have an ISA, before anybody investigates my tax avoidance scheming.
We're ALL 'guilty' of trying to maximise our earnings by a bit of sound financial planning.. it's just the scale is different. But it's not DC's fault that our own personal ancestors didn't have enough gumption to climb the greasy pole or go off to some far flung part of Africa and make a mint large enough for us still to be surviving on the inherited wealth.
This episode is more about class warfare and should be filed under 'The politics of envy'
Posted by: Andy Capp Apr 12 2016, 08:05 PM
ISAs were design to encourage people to save, not as a tax avoidance scam and in your case it works.
This episode is more about class warfare and should be filed under 'The politics of envy'
Tell it to the poor and ignorant.
In DC's case they never found a smoking gun, but it would have been helpful to have known this before he started to spout-off about being in it together and all the other Tory BS.
Posted by: Exhausted Apr 12 2016, 09:14 PM
There is a massive incentive in this country of ours to do anything we can to thwart the evil tax man. On the whole, most of the current round of noise we are hearing is to do with tax avoidance which is legal and if the rules of HM Revenue & Customs allow it then so be it. To my mind the taxman is totally out of control if their rules allow us to lose millions because the corporate financial guys are cleverer than the tax inspectors. They are out maneuvered at every turn and the consequence of this is that they concentrate on the small guys who are trying to make ends meet with little chance of transferring their funds offshore.
The fines imposed for minor errors or late payments are draconian and the rule book is so massive that the average small businessman with a couple of employees doesn't stand a chance.
An example for instance is that employers have to make an online submission, not a payment, just a submission of their PAYE details within 3 days of the payday. Missing this will be punished with an immediate fine of £300 which suddenly arrives in the post some several weeks after the event. No warning and no opportunity to appeal. A telephone call to HMRC will only get some snotty b!tch who is unsympathetic and offers no recourse other than pay up. You try and find, as an average employer without specialist knowledge of the rules, where this is laid down.
Don't even mention the bearded lady and her mate who turn up to waste two or three of your days poking about with a so called Vat inspection. Guilty until proven innocent and they can always go back to their warm office with a smug smile of satisfaction because you missed a couple of sales you made online.
Posted by: spartacus Apr 12 2016, 09:15 PM
Question: Does it help you avoid paying tax?
Whatever way these were marketed they are a form of tax avoidance, albeit something that nearly everyone with some spare cash is able to do yet at the same time are able to point the finger to those up top without feeling the slightest bit hypocritical.
Posted by: spartacus Apr 12 2016, 09:23 PM
And as well as ISAs and AVCs I also have a couple of pension pots on the go (which are showing pathetic potential returns for that day when I hang up my work jacket and slip into something more comfortable - despite my continual monthly 'investment' in them over the years.....)
oh and something hanging around from the time I was coerced into taking out an endowment mortgage, as that has such 'great return potential'....... (what return they'll EVER given me in my twilight years God only knows, as it feels it's been money pi$$ed down the drain).
I had no more to do with where those investments were made other than to just pay in monthly contributions. I wouldn't be surprised if 90% of the portfolio was in overseas investments and tax liabilities for those pension funds were minimal at the point of investment. Does that make me as 'guilty' as CMD but just in a much smaller scale?.
Posted by: Exhausted Apr 12 2016, 10:01 PM
I also had an endowment mortgage which actually lost money and would have extended my mortgage by about five years. I went down the mis sold route and suddenly they coughed up and I got a great wad back which with the house sale, I was laughing all the way to the bank.
Posted by: Andy Capp Apr 13 2016, 12:17 AM
Whatever way these were marketed they are a form of tax avoidance, albeit something that nearly everyone with some spare cash is able to do yet at the same time are able to point the finger to those up top without feeling the slightest bit hypocritical.
The point is it was designed to encourage to save by giving tax relief. Tax avoidence is where people decided to move or account for money primarily to avoid paying the full tax rate. Tax avoidence usually means one has behaved against the spirit of a law rather than outright lied.
E.g DC getting his inheritance in chunks rather than in one go. Or the husband that gifts his wife money under a mutual understanding that it is to avoid tax. Almost every small business has their wife as a company secretary, although in this instance I'd say that is aviation.
Posted by: Turin Machine Apr 13 2016, 09:01 AM
So, no one's ever uttered the immortal phrase "what's yer best price then, cash" or accepted £50 (beer tokens) for doing a little job or 'forgotten' about a bit of unearned income then? Everyone's squeaky clean? Doubt it somehow.
Posted by: Andy Capp Apr 13 2016, 09:19 AM
Agreed, but while law makers benefit from the laws over which they preside, we have an imbalance.
Posted by: Turin Machine Apr 13 2016, 11:05 PM
I thought taxation was dealt with by the civil service?
Posted by: Andy Capp Apr 14 2016, 01:57 PM
Civil Service don't make laws as far as I know.
Posted by: Simon Kirby Apr 14 2016, 04:45 PM
Actually yes, civil servants do make laws - statutory instruments are laws that don't get voted on by parliament - around 300 statutory instruments each year currently, though it was much less formerly. For example, EU Council Directives might typically be rendered into UK law with a statutory instrument enabled by the 1972 European Communities Act, though that act also enables European regulations written by European civil servants to have effect in UK law directly.
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