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The Fading Distinction Between Tax Avoidance and Tax Evasion
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A very interesting read.
I do wish the government would spend their time closing loopholes. Stopping companies charging for branding(like starbucks) would be a good start. -
Originally posted by BrilloPad View PostI do wish the government would spend their time closing loopholes.Comment
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Originally posted by Goatfell View PostAll that tends to happen is that in closing one they open two more. They give the impression of incompetency, but I've a sneaking suspicion that they're not.Comment
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If tax avoidance is bad....
ISAs should be illegal.
So also pension contributions.
So also energy-efficient cars (less VAT and fuel duty).
So also low-emissions cars (less road tax).
So also voting against Labour.Comment
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Originally posted by BrilloPad View PostA very interesting read.
I do wish the government would spend their time closing loopholes. Stopping companies charging for branding(like starbucks) would be a good start.
Is there any good reason why we couldn't tax lightly on turnover, rather than profit?
For example, why are businesses allowed to discount expenses when calculating tax (yeah I know, hear me out! )
An individual doesn't get to offset the cost of their rent against their income, so why can a business?
How about a much lower, progressive tax on turnover? If you spend more than you take then tough tits, you're out. But big earners would pay more and there'd be no way around it.⭐️ Gold Star ContractorComment
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Originally posted by PerfectStorm View PostI've had a thought about this.
Is there any good reason why we couldn't tax lightly on turnover, rather than profit?
For example, why are businesses allowed to discount expenses when calculating tax (yeah I know, hear me out! )
An individual doesn't get to offset the cost of their rent against their income, so why can a business?
How about a much lower, progressive tax on turnover? If you spend more than you take then tough tits, you're out. But big earners would pay more and there'd be no way around it.
I am also in favour of a tax on property.Comment
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Originally posted by PerfectStorm View PostI've had a thought about this.
How about a much lower, progressive tax on turnover? If you spend more than you take then tough tits, you're out. But big earners would pay more and there'd be no way around it.Comment
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Originally posted by WordIsBond View PostISAs should be illegal.
So also pension contributions.
There is a world of difference between using a tax advantage that has been specifically designed, versus a loophole that, while currently legal, they will eventually close.Comment
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Originally posted by PerfectStorm View PostIs there any good reason why we couldn't tax lightly on turnover, rather than profit?
Simplifying taxes and reducing deductions in exchange for lower rates would be good for almost everyone but accountants and lawyers. Since people keep electing lawyers, for some reason that never happens.Comment
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