B'Liar likes tax evoidance

[vetran]

Who would have thunk it?

https://www.dailymail.co.uk/news/art...ra-Papers.html

The group of nine includes former Labour prime minister, who with his wife Cherie avoided £321,000 ($434,000) in stamp duty when they bought an office in London by purchasing the offshore company that owned it. The couple have built a £35m property empire of 39 homes, flats and offices since he left Downing Street.

Although he is not named himself, the wife of Tory MP Jacob Rees-Mogg's wife is. Helena de Chair is the beneficiary of a holding company and trust to manage 'pictures and paintings' worth $3.5million.

[SimonMac]

Who would have thunk it?

https://www.dailymail.co.uk/news/art...ra-Papers.html

Nothing wrong with avoiding tax (I assume thats what you mean) I avoid tax with my pension, my ISA, any time I put an expense though MyCo. We have just finally persuaded my nan to move to the house in Spain and sell her place in England to avoid IHT

[vetran]

Nothing wrong with avoiding tax (I assume thats what you mean) I avoid tax with my pension, my ISA, any time I put an expense though MyCo. We have just finally persuaded my nan to move to the house in Spain and sell her place in England to avoid IHT

Have you ever gone to country and suggest that we all should pay more tax?

[Whorty]

Nothing wrong with avoiding tax (I assume thats what you mean) I avoid tax with my pension, my ISA, any time I put an expense though MyCo. We have just finally persuaded my nan to move to the house in Spain and sell her place in England to avoid IHT

But, but, but, but .... that's not the same as when a rich person does it

[d000hg]

As the BBC article points out, it's very normal to transfer property within a holding company. Tony claims the seller insisted on doing it this way (who knows if that's true).

The only awkward part is that he specifically pointed out this case about 20 years ago as one that was bad and should be stopped.

[ladymuck]

"evoidance" being a witty portmanteau of avoidance and evasion?

I don't believe you made that up, so you either got lucky with a typo or pinched it

[vetran]

"evoidance" being a witty portmanteau of avoidance and evasion?

I don't believe you made that up, so you either got lucky with a typo or pinched it

It wasn't typo.

Have used it for years, check my posts, to mock Hector's attempt to merge the two when he wants to. Back when IR35 affected me. Not sure I nicked it.

[Fraidycat]

Nothing wrong with avoiding tax (I assume thats what you mean) I avoid tax with my pension, my ISA, any time I put an expense though MyCo. We have just finally persuaded my nan to move to the house in Spain and sell her place in England to avoid IHT

Depends how dodgy the avoidance is. ISAs are not dodgy at all. But expenses through a LTD could well be legit or they might be evasion, depending on what you are expensing.

20 years ago i was at at a gig and many of the contractors were signing up to an extremely dodgy deprecating currency loan scheme.

They all though it was legit tax avoidance. I stayed well clear.

[Whorty]

Depends how dodgy the avoidance is. ISAs are not dodgy at all. But expenses through a LTD could well be legit or they might be evasion, depending on what you are expensing.

20 years ago i was at at a gig and many of the contractors were signing up to an extremely dodgy deprecating currency loan scheme.

They all though it was legit tax avoidance. I stayed well clear.

In the eyes of the law there is no such thing as dodgy avoidance.

It's either legit avoidance, or it's illegal avoidance and hence evasion.

So, if the expense is 'dodgy' avoidance then it's fraud. Simple as.

Re the Blairs, we may not like them, we may not like that they have save millions in tax, but so long as it's avoidance and not evasion then it's tough t*tty for the tax payer.

[ladymuck]

Re the Blairs, we may not like them, we may not like that they have save millions in tax, but so long as it's avoidance and not evasion then it's tough t*tty for the tax payer.

Yeah, I agree - it becomes a moral rather than legal argument.