Super rich tax.

[Kitman 2207]

We're busy recovering 5bn£ from Swiss banks in hidden wealth by the rich in the UK.

 

Sir Phillip Green is avoiding 265m a year in tax by living in Monaco for a few months.

 

I guess it's the difference between tax avoidance and tax evasion. The smart avoid tax by going and living in Monaco long enough to become non resident. The dumb just lie about their wealth and expect not to get caught despite obvious fortune. The latter would include Wesley Snipes and Lester Piggott.

 

Piggott was an interesting case. Apparently he was caught tax evading bang to rights and was offered the chance by IR to wipe the slate clean. This involved disclosing all his foreign bank accounts, investments and income and paying his back taxes. He duly did this and then settled the bill using a cheque drawn on a super secret bank account that he hadn't disclosed. He went to prison.

[BalarnyStone 0]

I've had shits more intelligent than YOU.

 

 

It certainly sounds like you're letting your shit do your talking, that's for sure.

 

If when you said "The really rich in the UK PAY NO TAX.", what you actually meant was, "in the UK non-doms PAY NO TAX", then for one, you're a fucking screwball if you think that was a revelation to me (it's fucking GCSE economics that for fuck's sake), and for two, you need to prove that all the really rich in the uK are all non-doms. so, over to you you meth-smoking fruitbat.

[Park Life 71]

I guess it's the difference between tax avoidance and tax evasion. The smart avoid tax by going and living in Monaco long enough to become non resident. The dumb just lie about their wealth and expect not to get caught despite obvious fortune. The latter would include Wesley Snipes and Lester Piggott.

 

Piggott was an interesting case. Apparently he was caught tax evading bang to rights and was offered the chance by IR to wipe the slate clean. This involved disclosing all his foreign bank accounts, investments and income and paying his back taxes. He duly did this and then settled the bill using a cheque drawn on a super secret bank account that he hadn't disclosed. He went to prison.

 

Piggot:(squeaky voice) Yeah I'll pay up.

Tax bloke: I'm glad you've seen sense Mr Piglet.

Piggot gets out a chequebook*.

Printed boldly on the front : 'Top secret Bank of Caymen.'

Edited June 5, 2012 by Park Life

[Matt 0]

Income tax is there to fund the government. The rest is a pretty fanciful wishlist, which no government of any kind on the planet has acheived, whatever their tax policies.

 

Assuming a free market for labour, income tax is a tax on temporary productive activity. It will always ensure those who start with £1m will pay less tax than those starting with nothing and earning £1m through productive processes, reducing the marginal benefit of productivity.

 

Of course a perfect society is a pipedream, but you surely have to undertake a taxation structure that can best acheive those aims, rather than shrugging and admitting defeat?

[Park Life 71]

It certainly sounds like you're letting your shit do your talking, that's for sure.

 

If when you said "The really rich in the UK PAY NO TAX.", what you actually meant was, "in the UK non-doms PAY NO TAX", then for one, you're a fucking screwball if you think that was a revelation to me (it's fucking GCSE economics that for fuck's sake), and for two, you need to prove that all the really rich in the uK are all non-doms. so, over to you you meth-smoking fruitbat.

 

Yeah cause the super rich have a lot to gain by declaring themselves domicile. GCSE's came in as people got too thick to do 'O' levesl monkey sperm.

[Happy Face 29]

Laughing all the way to the bank: Lakshmi Mittal will not pay tax in the UK on his £393m dividend due to his non-domicile status

 

Britain's richest man is £393.9million better off today after paying himself a huge dividend from his company, safe in the knowledge that as a "non-dom" he will not pay tax on it here.

 

Indian tycoon Lakshmi Mittal, 57, is the world's fifth wealthiest man, worth more than £19billion.

[Park Life 71]

TONY BLAIR faced Labour calls for an inquiry yesterday after Lakshmi Mittal, the donor to the party, admitted not paying tax in Britain on his worldwide income.

Kate Hoey, a former Labour minister, said the Mittal affair sounded "a bit fishy". Lord Paul, a Labour peer, described it as a "slip up".

Mr Mittal's company LNM, which employs less than 0.1 per cent of its workforce in Britain, received a letter of support from Mr Blair to help it buy a Romanian steelworks. The letter created a furore because of Mr Mittal's £125,000 gift to the party weeks earlier.

[Matt 0]

Got a link to the story HF?

[Happy Face 29]

Someone else van check the other 9 richest in the UK....

 

1 Lakshmi Mittal and family £17,514m £4,936m Steel

 

2 (6) Alisher Usmanov £12,400m £7,700m Steel

 

3 (2) Roman Abramovich £10,300m £2,900m Oil, Industry

 

4 (3) Duke of Westminster £7,000m £250m Property

 

5 (4) Ernesto and Kirsty Bertarelli £6,870m £920m Pharmaceuticals

 

6 (15) Leonard Blavatnik £6,237m £3,237m Industry

 

7 (16) John Fredriksen and family £6,200m £3,450m Shipping

 

8 (5) David and Simon Reuben £6,176m £644m Property, Internet

 

9= (new) Gopi and Sri Hinduja £6,000m New Industry, Finance

 

9= (7) Galen and George Weston and family

[Park Life 71]

Millionaire tax avoiders 'shock' chancellor

 

George Osborne George Osborne examined anonymous tax returns submitted to the Inland Revenue.Chancellor George Osborne says he is "shocked" that some of the UK's richest people have organised their finances so that they pay virtually no income tax.

 

The Daily Telegraph reported that a study by HM Revenue and Customs showed the very rich had reduced their average income tax rate to just 10%.

George Osborne said it was not right that the richest could legally arrange their tax affairs in such a way.

But Labour accused him of "synthetic shock", having cut the top tax rate.

He said he would take "further action" but did not outline any new proposals.

HM Revenue and Customs provided the chancellor with "anonymised copies" of the confidential tax returns submitted to the organisation by the UK's wealthiest people, the Telegraph reported.

 

 

 

http://www.bbc.co.uk/news/uk-politics-17661011

[Happy Face 29]

Got a link to the story HF?

 

http://www.thisislondon.co.uk/news/a-393m-payday-but-tycoon-lakshmi-mittal-wont-be-taxed-on-it-here-as-hes-a-nondom-6622827.html

[Park Life 71]

Someone else van check the other 9 richest in the UK....

 

1 Lakshmi Mittal and family £17,514m £4,936m Steel

 

2 (6) Alisher Usmanov £12,400m £7,700m Steel

 

3 (2) Roman Abramovich £10,300m £2,900m Oil, Industry

 

4 (3) Duke of Westminster £7,000m £250m Property

 

5 (4) Ernesto and Kirsty Bertarelli £6,870m £920m Pharmaceuticals

 

6 (15) Leonard Blavatnik £6,237m £3,237m Industry

 

7 (16) John Fredriksen and family £6,200m £3,450m Shipping

 

8 (5) David and Simon Reuben £6,176m £644m Property, Internet

 

9= (new) Gopi and Sri Hinduja £6,000m New Industry, Finance

 

9= (7) Galen and George Weston and family

 

The Duke is the only one in that lot that pays UK tax iirc...

Edited June 5, 2012 by Park Life

[BalarnyStone 0]

Yeah cause the super rich have a lot to gain by declaring themselves domicile. GCSE's came in as people got too thick to do 'O' levesl monkey sperm.

 

As I suspected, in your ignorance you thought the two were the same. This was a nice try at covering this up though.....

[Park Life 71]

As I suspected, in your ignorance you thought the two were the same. This was a nice try at covering this up though.....

 

I think you've failed to even understand the basics.

Edited June 5, 2012 by Park Life

[Kevin S. Assilleekunt 1]

ooooohhhh, catfight

[Happy Face 29]

400 UK-based individuals earn, or are capable of making, £10m a year.

 

But only 65 (just over 15%) paid income tax, according to the latest figures obtained under the Freedom of Information Act. The rest use a battery of sophisticated but legal techniques to avoid paying.

 

http://www.thisismoney.co.uk/money/news/article-1611272/Super-rich-paying-no-income-tax.html

[Park Life 71]

400 UK-based individuals earn, or are capable of making, £10m a year.

 

But only 65 (just over 15%) paid income tax, according to the latest figures obtained under the Freedom of Information Act. The rest use a battery of sophisticated but legal techniques to avoid paying.

 

http://www.thisismon...income-tax.html

 

Even Osbourne is SHOCKED!!!!

[BalarnyStone 0]

I think you've failed to even understand the basics.

 

Have I fuck. I pointed out that it's beyond stupid for communists like yourself to claim that having rich people pay a higher percentage of income tax was somehow fair. You've countered with this with some absolute bollocks about how the really rich in the UK don't pay any tax AT ALL, based on your fucknutted idea that these people are all to a man non-doms - which is just factually wrong.

[BalarnyStone 0]

400 UK-based individuals earn, or are capable of making, £10m a year.

 

But only 65 (just over 15%) paid income tax, according to the latest figures obtained under the Freedom of Information Act. The rest use a battery of sophisticated but legal techniques to avoid paying.

 

http://www.thisismon...income-tax.html

 

The cost to the treasury of fraudulent sickness benefit claims alone last year was £1.2 billion. To reach the same amount of cost, you have to assume that at least 270 of those 400 people earning £10m+ are using illegal measures to avoid paying tax (paying a lawyer to point oiut loopholes is of course, not illegal). Quite clearly, it's not just the tax-avoiding rich who are holding the UK back form being a utopia of fairness and equal opportunity.

[BalarnyStone 0]

Someone else van check the other 9 richest in the UK....

 

1 Lakshmi Mittal and family £17,514m £4,936m Steel

 

2 (6) Alisher Usmanov £12,400m £7,700m Steel

 

3 (2) Roman Abramovich £10,300m £2,900m Oil, Industry

 

4 (3) Duke of Westminster £7,000m £250m Property

 

5 (4) Ernesto and Kirsty Bertarelli £6,870m £920m Pharmaceuticals

 

6 (15) Leonard Blavatnik £6,237m £3,237m Industry

 

7 (16) John Fredriksen and family £6,200m £3,450m Shipping

 

8 (5) David and Simon Reuben £6,176m £644m Property, Internet

 

9= (new) Gopi and Sri Hinduja £6,000m New Industry, Finance

 

9= (7) Galen and George Weston and family

 

So that's at least 1, possibly 2, out of 10, that could be considered lazy bastards who simply inherited their wealth, and thus can be justifiably taxed at a higher rate than the rest of us.

[Happy Face 29]

 

 

The cost to the treasury of fraudulent sickness benefit claims alone last year was £1.2 billion. To reach the same amount of cost, you have to assume that at least 270 of those 400 people earning £10m+ are using illegal measures to avoid paying tax (paying a lawyer to point oiut loopholes is of course, not illegal). Quite clearly, it's not just the tax-avoiding rich who are holding the UK back form being a utopia of fairness and equal opportunity.

 

No-one has said its illegal. That's the disgrace of it Chico.

[BalarnyStone 0]

No-one has said its illegal. That's the disgrace of it Chico.

 

Hardly. I think it's more disgraceful that it's legal to charge someone a higher percentage of income tax just because they earn more, and call that 'fair'. Perhaps there would be less avoidance among the rich if there was a genuniely fair system of a flat rate. Maybe then the envious people frothing their knickers in jealousy would pay more attention to the people who really are stealing from the country while contributing absolutely nothing to it.

[NJS 4389]

So that's at least 1, possibly 2, out of 10, that could be considered lazy bastards who simply inherited their wealth, and thus can be justifiably taxed at a higher rate than the rest of us.

So that's at least 1, possibly 2, out of 10, that could be considered lazy bastards who simply inherited their wealth, and thus can be justifiably taxed at a higher rate than the rest of us.

 

Take out the foreigners (several of whom will be either inheritors or distinctly dubious) and you'll get a clearer picture. That also takes no acount of land ownership which in this country is an aristocratic cartel dating back centuries.

 

Also on your comment about fellow workers, as a rule of thumb most PAYE workers (unless they are at board level) wouldn't be classified by me as rich. Having said that I've worked with a couple of bosses family members who were fuckwitted oxygen thieves, completely undeserving of any job. I'd imagine the higher up you go (see Cameron's "work" history as a good example) the more fuckwits abound.

[NJS 4389]

The cost to the treasury of fraudulent sickness benefit claims alone last year was £1.2 billion. To reach the same amount of cost, you have to assume that at least 270 of those 400 people earning £10m+ are using illegal measures to avoid paying tax (paying a lawyer to point oiut loopholes is of course, not illegal). Quite clearly, it's not just the tax-avoiding rich who are holding the UK back form being a utopia of fairness and equal opportunity.

The cost to the treasury of fraudulent sickness benefit claims alone last year was £1.2 billion. To reach the same amount of cost, you have to assume that at least 270 of those 400 people earning £10m+ are using illegal measures to avoid paying tax (paying a lawyer to point oiut loopholes is of course, not illegal). Quite clearly, it's not just the tax-avoiding rich who are holding the UK back form being a utopia of fairness and equal opportunity.

 

Can I have some official figures on that 1.2 billion. - if its a Tory "fact" then I'll ignore it.

 

Also every legal tax avoidance scheme used by the rich is designed, legislated and paid for by a network of the same people - the treasury/ lackeys enforce the laws demanded by their real masters.

[BalarnyStone 0]

Take out the foreigners (several of whom will be either inheritors or distinctly dubious) and you'll get a clearer picture. That also takes no acount of land ownership which in this country is an aristocratic cartel dating back centuries.

 

Also on your comment about fellow workers, as a rule of thumb most PAYE workers (unless they are at board level) wouldn't be classified by me as rich. Having said that I've worked with a couple of bosses family members who were fuckwitted oxygen thieves, completely undeserving of any job. I'd imagine the higher up you go (see Cameron's "work" history as a good example) the more fuckwits abound.

 

The idea that your model of assessing other's work ethic only applied to 'rich' people wasn't a revelation. Quite why you exclude foreigners isn't clear - they are in the list because they are part of this country's economy and theoretically contributing to it through tax (although Parky would have you believe they are 100% non-doms). As for landowners, well, you can go all Mugabe on their asses if you want and reposess their 'weatlh', but I don't see that producing paradise either. It didn't really work for the Soviets did it.