The 'who's' getting shafted over tax avoidance thread?

[adubya]

He was probably warned that the way things go Enterprenuers relief would be withdrawn soon

It's utter bull that company can be liquidated and Enterprenuers relief can be claimed - if you have to liquidate company you ain't successful enterprenuer surely?

+1

Closing down a company, trousering a load of cash and then starting up the same business with a different name is double glazing company territory

[AtW]

When you sell your business for £2million AtW will you be paying 50% or take the 10% entrepeneurs relief?

You don't see the difference between selling company and liquidating it?

Entrepeneurs relief was designed to offset removal of CGT taper relief, I am suprised that liquidation of company isn't treated as paying final dividend to all shareholders - it's totally inappropriate to use CGT in such case in the first place.

I am pretty sure a lot of this tulip is going on at the moment and next budget will destroy nice principle that honest hard working entrepeneurs get some kind of material recognition

[Old Greg]

When you sell your business for £2million AtW will you be paying 50% or take the 10% entrepeneurs relief?

It will all be used for his tax deductible cryogenic storage bill.

[AtW]

"This tax relief is approximately half of the tax saving the Mail quoted in its article today. 4/5"

Source: https://twitter.com/frankieboyle

Looks like confirmation from him that the relief was claimed. Assuming 20% corp tax then 10% CGT on remaining that would be (100*0.8*0.9 -> 72 or effective tax rate of 28%).

It's very odd that enterpreneurs relief can even be claimed upon liquidation. This will probably change next year

[MarillionFan]

"This tax relief is approximately half of the tax saving the Mail quoted in its article today. 4/5"

Source: https://twitter.com/frankieboyle

Looks like confirmation from him that the relief was claimed. Assuming 20% corp tax then 10% CGT on remaining that would be (100*0.8*0.9 -> 72 or effective tax rate of 28%).

It's very odd that enterpreneurs relief can even be claimed upon liquidation. This will probably change next year

Maybe Northernladuk had advised him?

Personally id like to pay as little tax as possible. **** everyone else.

[AtW]

Personally id like to pay as little tax as possible. **** everyone else.

Save words of love to your new husband Bubba in HMP Wandsworth where allegedly all tax avoiders will go eventually

[SupremeSpod]

Save words of love to your new husband Bubba in HMP Wandsworth where allegedly all tax avoiders will go eventually

Even people with ISAs and those bastards who invest in Children's Bonus Bonds, they're really gonna get it! Line the f*ckers up and shoot 'em!

[AtW]

Even people with ISAs and those bastards who invest in Children's Bonus Bonds, they're really gonna get it! Line the f*ckers up and shoot 'em!

Those are ok because they were explicitly created for such reason and their net tax avoidance effect is offset by making people save for the future.

HTH

[SupremeSpod]

Those are ok because they were explicitly created for such reason and their net tax avoidance effect is offset by making people save for the future.

HTH

Still tax avoidance. They're still used by individuals to mitigate their tax liability and therefore depriving the exchequer directly and indirectly us!

Hang the f*ckers, every last one of 'em.

[AtW]

Still tax avoidance.

It's not avoidance actually, there is no income tax on such activity as explicitly approved by Parliament.

There is no VAT on food, that does not mean that eating it is tax avoidance.