Originally posted by turbowoowoo
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Tax question - is it pointless?
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Originally posted by LisaContractorUmbrella View PostYou are comparing apples with oranges - it's not the same thing at all. A company like Amazon, for example, has offices all over the world Amazon.com: Locations, they will have tax obligations all over the world but some of those will be offset against losses in other areas or because of dual taxation agreements etc etc. Just because a multi national doesn't, according to the newspapers, pay the 'fair' amount of tax in the UK doesn't mean that they aren't paying the correct amount overall. People who used EBT's put their earnings with a company who promised to lower their tax liability artificially - they were effectively 'loaned' their own money knowing that the 'loan' would never be repaid. Either that or they had their earnings paid somewhere like the Isle of Man - they had no connection to the Isle of Man, no offices there, they weren't tax resident there, didn't live there - the only reason for doing it was to attempt to reduce tax liability artificially.
Graeme Bennett ACMA MBAComment
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Originally posted by LisaContractorUmbrella View PostYou are comparing apples with oranges - it's not the same thing at all. A company like Amazon, for example, has offices all over the world Amazon.com: Locations, they will have tax obligations all over the world but some of those will be offset against losses in other areas or because of dual taxation agreements etc etc. Just because a multi national doesn't, according to the newspapers, pay the 'fair' amount of tax in the UK doesn't mean that they aren't paying the correct amount overall. People who used EBT's put their earnings with a company who promised to lower their tax liability artificially - they were effectively 'loaned' their own money knowing that the 'loan' would never be repaid. Either that or they had their earnings paid somewhere like the Isle of Man - they had no connection to the Isle of Man, no offices there, they weren't tax resident there, didn't live there - the only reason for doing it was to attempt to reduce tax liability artificially.
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Answers on a post card please
What are your views on ISA's Pensions, family trusts etc etc? are people who use these lowering their tax liability artificially?
Whilst these schemes are now clearly out of scope for users, these were used for many years as valid vehicles
One other question
People who use your umbrella functions are they lowering their tax liability artificially by claiming travel costs to their place of work?Comment
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