Jimmy Carr Tax Avoidance

[SupremeSpod]

If you don't see the problem then you are either an idiot or tax cheat, possibly both.

I'm merely point out the fact that whilst what he is doing may appear to some to be immoral, IT IS NOT ILLEGAL.

So my little commie friend maybe it is you who is too stupid to recognise the facts of the matter.

[DodgyAgent]

If you don't see the problem then you are either an idiot or tax cheat, possibly both.

Either it is right or wrong, legal or illegal.

[AtW]

I'm merely point out the fact that whilst what he is doing may appear to some to be immoral, IT IS NOT ILLEGAL.

Your comment is only valueable in context of "why it isn't illegal and when it will become totally and utterly illegal".

[AtW]

Either it is right or wrong, legal or illegal.

I think you may find HMRC uses different terminology: "this scheme does not work"

[SupremeSpod]

Your comment is only valueable in context of "why it isn't illegal and when it will become totally and utterly illegal".

Currently it is not illegal. True or False?

[NickFitz]

Ken Dodd did a good line in self deprecating jokes about his tax affairs.

I remember his first TV appearance after that business, when he opened with "My accountant told me to put my money into land, so I buried it in the back garden."

[MarillionFan]

Tax avoidance scheme used by Jimmy Carr investigated by HMRC | Business | guardian.co.uk

HMRC said it was currently investigating whether the scheme was technically legal.

"If it [K2] does work technically, HMRC will challenge it in every way. There is no way anyone, no matter who they are, is going to get away with paying less than they should," they said.

Retrospectively he's going to be fecked.

[AtW]

Currently it is not illegal. True or False?

Only court can decide that.

In my view (and that's my view) any sham transaction with loans that are not really loans is nothing but tax evasion, but I repeat it's my personal view.

Sasdly HMRC does not like going after tax evasion because the odds are stacked in favour of defendant but I think they should be doing it more often: not just after people who benefit from it directly but also after those who create such "schemes".

[AtW]

By the way in those loans, do they charge market level of interest at all? Surely if loan got 0% interest then it's a sham, not a loan?

[SupremeSpod]

Only court can decide that.

In my view (and that's my view) any sham transaction with loans that are not really loans is nothing but tax evasion, but I repeat it's my personal view.

Sasdly HMRC does not like going after tax evasion because the odds are stacked in favour of defendant but I think they should be doing it more often: not just after people who benefit from it directly but also after those who create such "schemes".

Answer the question. Is the scheme currently as of 19/06/2012 illegal? Yes or No?