Originally posted by SupremeSpod
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The 'who's' getting shafted over tax avoidance thread?
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While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.' -
Originally posted by AtW View PostIt'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.
You're saving money in an ISA and avoiding the tax liability that you would incur in another type of account. That is tax avoidance - true or false?Comment
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Originally posted by SupremeSpod View PostNo but earning interest on your savings and not paying income tax on that interest is avoidance, surely.Comment
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Originally posted by AtW View PostThere is no tax on ISAs as intended by Parliament, using them you are no more avoiding tax than cooking meal at home instead of buying VATable take away.While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'Comment
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Originally posted by doodab View PostThose rotten immigrants cooking at home and doing British workers out of British jobs. It's an outrage!Comment
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Originally posted by AtW View PostThere is no tax on ISAs as intended by Parliament, using them you are no more avoiding tax than cooking meal at home instead of buying VATable take away.
Individual Savings Accounts, or ISAs, provide an easy and tax efficient way for you to build up your long-term savings pot. Crucially, you have no income tax or capital gains tax liability on investments held within an ISA. These tax savings mean your money can work harder, potentially boosting long-term returns.Comment
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Originally posted by SupremeSpod View PostAh but the ISA accounts are advertised as a way of saving without paying tax on the interest! That's blatant tax avoidance!Comment
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Originally posted by AtW View PostThere is no tax on ISAs as intended by Parliament, using them you are no more avoiding tax than cooking meal at home instead of buying VATable take away.What happens in General, stays in General.You know what they say about assumptions!Comment
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Originally posted by MarillionFan View PostWhat about those people who eat in Greggs? Been avoiding VAT for years the bastards. Anyone who's eaten in Greggs should be put in jail surely.
A fat bastard like you must've got away with hundreds of thousands in unpaid pasty-tax over the past six years.Comment
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Originally posted by MarillionFan View PostWhat about those people who eat in Greggs? Been avoiding VAT for years the bastards. Anyone who's eaten in Greggs should be put in jail surely.
Personally I think everything should be VATable at same rate without any exemptions whatsoever.
This would probably allow to drop income tax rates to levels which would encourage people actually pay tax rather than get into crazy schemes, my plan (no NIC bulltulip - single rate of tax):
10% for income under £20k
20% for income in range £20-50k
30% for income in range £50-100k
20% for income in range £100-250k
10% for income in range £250k+
CGT: 10% for long term holdings, 90% for short term.
Gambling wins of any kind (including lottery): 90% tax
Dividends etc - treat as income with tax credit as it is now.
Corp tax - reflect personal income rates.
Business rates - removed.
VAT - 25% on everything (implemented gradually).
Fuel duties set at level that at least 50% of income goes into roads.
Booze - higher on retailed stuff and a LOT less for pubs.
Anybody who fails to pay material amount of tax on time for any reason will be deemed tax evader.
HTHLast edited by AtW; 1 July 2012, 17:15.Comment
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