Ross Thompson's Loan Charge Suspension Petition

[Old Greg]

You are consciously investing your money in a vehicle that does not tax your interest. However you try and justify it, you are making that decision.

You dirty little tax avoider!

Tax saver, not tax avoider.

[AtW]

You are consciously investing your money in a vehicle that does not tax your interest. However you try and justify it, you are making that decision.

You dirty little tax avoider!

Obviously lack of tax encouraged my investment decision, which was the whole intended objective for ISAs.

I am within spirit and word of the law on that matter.

This isn’t “tax avoidance” - term that now means “tax evasion but too expensive to bring criminal prosecution to beyond reasonable doubt standard”.

[BrilloPad]

I am within spirit and word of the law on that matter.

Not for long......

[AtW]

You want to talk lives let’s talk about it.

How many people committed suicide because of inadequate mental care which was due to lower tax revenues from tax avoidance?

How many lives would be saved with 200-300 mln extra per year put into NHS to cut waiting periods?

It follows that tax avoiders got blood on their hands.

[fullyautomatix]

Two arguments are generally used to justify tax avoidance and criticize retrospective action. ISA and speed limits.
Both have no merit really and are really absurd. ISA is government endorsed and used by the majority of the savers.
Changing speed limit and penalizing everyone for speeding is so absurd in logic it does not merit any discussion.

Back to the loan charge issue then. So contractors earned 150k a year and got paid most of it as loans and paid some dodgy outfit some fees. In theory no tax was paid and there have been cases where this scheme.e was used for almost 10 years and I have heard 700k being mentioned. It means no tax paid on 700k income!

No government will endorse this and accept it as legit. Except maybe UAE etc.
The loan charge activists have been pulling the wool over the eyes of MPs etc. How many disclosed their entire income when arguing their case? None. All of the arguments presented are being very economical with the truth. The moment MPs are told that contractors earned a million and paid zero tax, they will drop this like a hot potato.

[Old Greg]

Two arguments are generally used to justify tax avoidance and criticize retrospective action. ISA and speed limits.
Both have no merit really and are really absurd. ISA is government endorsed and used by the majority of the savers.
Changing speed limit and penalizing everyone for speeding is so absurd in logic it does not merit any discussion.

Back to the loan charge issue then. So contractors earned 150k a year and got paid most of it as loans and paid some dodgy outfit some fees. In theory no tax was paid and there have been cases where this scheme.e was used for almost 10 years and I have heard 700k being mentioned. It means no tax paid on 700k income!

No government will endorse this and accept it as legit. Except maybe UAE etc.
The loan charge activists have been pulling the wool over the eyes of MPs etc. How many disclosed their entire income when arguing their case? None. All of the arguments presented are being very economical with the truth. The moment MPs are told that contractors earned a million and paid zero tax, they will drop this like a hot potato.

What I find telling is that nobody is prepared to accept the invitation to detail exactly how their scheme worked. It's almost as if they're ashamed.

[AtW]

It’s pretty clear that some proper wealthy people will be affected too, but the whole matter is too high profile and public for HMRC to back down

[fullyautomatix]

What I find telling is that nobody bus prepared to accept the invitation to detail exactly how their scheme worked. It's almost as if they're ashamed.

Some scheme users come to the tax avoidance forum and try to admit that they probably did something dodgy but they are immediately told to join this group or that group and small group or big group and fight HMRC and pay some other outfit more money. Again activists trying to garner more cash to fight and almost making it seem like there is a iron clad case to fight and win. It's almost like they want to go down fighting but don't want to do it alone but ensure everybody else goes down too.

[CryingSheep]

What I find telling is that nobody bus prepared to accept the invitation to detail exactly how their scheme worked. It's almost as if they're ashamed.

I'm curious as well... Can anyone detail it!? Please...

As for comparing loan schemes with ISAs...

[BrilloPad]

It’s pretty clear that some proper wealthy people will be affected too, but the whole matter is too high profile and public for HMRC to back down

Oddly the DTA schemes were used by rich people from 1989 until 2000. Badger Lamont was asked by Alex Salmond if he was aware that Padmore had left a loophole. He said he did not care.

It was only when DTA was used by poor people that the government objected.

Go figure. Oh wait, you are too thick to.....