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Was that an avoidance or an evasion scheme? -
It all seems perfectly reasonable and above board.Originally posted by ladymuck View Post
Was that an avoidance or an evasion scheme?
The scheme, promoted to high earners by Mercury Tax Group, involved a limited partnership that was registered in Jersey and was claiming to carry out trade in the UK.
Each of the users of the scheme contributed a sum which was used, with a large bank loan, to acquire rights to dividends declared by a company registered in the Cayman Islands.
The partnership claimed a deduction for the cost of purchasing the dividend rights but tried to exclude the dividends received from its trading results, creating a loss which was used to reduce users' tax bills.Comment
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They're obviously not in 'the club'. What does it take to get into 'the club' these days? Is it just money or are there dodgy underground initiation rituals involved as well?"Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon MuskComment
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