So what do we think of Jimmy Carr's tax avoidence scheme?!
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So what do we think of this news story?! Here's an article I wrote about it:
(15 min long video but it's SO worth it!) -
Wasn't it involvement in a similar scheme to pay it's players that has brought down Rangers football club? http://www.dailyrecord.co.uk/news/scottish-news/2012/06/10/offshore-firm-which-helped-to-set-up-rangers-tax-avoidance-scheme-is-called-deepwater-86908-23892678/ So ask the Blue side of Glasgow if there's any harm in it. One thing to remember is that HRMC doesn't need absolute pinpoint legality to determine the principle of tax avoidance - they can just simply say "Good Try, have a tax bill....." and the burden of avoidance falls on the person on which that tax demand is levied. The K2 scheme isn't Jimmy Carr's as such, he is just one high profile client to the company managing it - apparently based in Scotland - again a link that makes the deal vulnerable - his money might be off-shore in a nominal convenience office - little more than a plaque on a mail forwarding centre wall - but not very far... Other schemes are listed here: http://m.dailymail.co.uk/money/news/article-2162245/The-tricks-British-celebrities-use-pay-tax.html Most fail in due course. So if using such it's best to reserve the equivalent in due tax for the inevitable day of reckoning plus another 20% or more for the legal proceedings - so one might as well pay up it'll be cheaper in the long run. They may be archaic and a dinosaur but HMRC love the profile of such cases as it sharpens the public will - and eventually government sit up and notice these avoidance schemes and refresh determination to eliminate more such abuse. Martin
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martinput:
Wasn't it involvement in a similar scheme to pay it's players that has brought down Rangers football club? http://www.dailyrecord.co.uk/news/scottish-news/2012/06/10/offshore-firm-which-helped-to-set-up-rangers-tax-avoidance-scheme-is-called-deepwater-86908-23892678/ So ask the Blue side of Glasgow if there's any harm in it. One thing to remember is that HRMC doesn't need absolute pinpoint legality to determine the principle of tax avoidance - they can just simply say "Good Try, have a tax bill....." and the burden of avoidance falls on the person on which that tax demand is levied. The K2 scheme isn't Jimmy Carr's as such, he is just one high profile client to the company managing it - apparently based in Scotland - again a link that makes the deal vulnerable - his money might be off-shore in a nominal convenience office - little more than a plaque on a mail forwarding centre wall - but not very far... Other schemes are listed here: http://m.dailymail.co.uk/money/news/article-2162245/The-tricks-British-celebrities-use-pay-tax.html Most fail in due course. So if using such it's best to reserve the equivalent in due tax for the inevitable day of reckoning plus another 20% or more for the legal proceedings - so one might as well pay up it'll be cheaper in the long run. They may be archaic and a dinosaur but HMRC love the profile of such cases as it sharpens the public will - and eventually government sit up and notice these avoidance schemes and refresh determination to eliminate more such abuse. Martin
oh yes. martin has it spot on here. although i would all rich people including our macca will benefit from such schemes...basically they are all at it and you probably would too if you could afford expensive accountants.
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lazydynamite88:
martinput:
Wasn't it involvement in a similar scheme to pay it's players that has brought down Rangers football club? http://www.dailyrecord.co.uk/news/scottish-news/2012/06/10/offshore-firm-which-helped-to-set-up-rangers-tax-avoidance-scheme-is-called-deepwater-86908-23892678/ So ask the Blue side of Glasgow if there's any harm in it. One thing to remember is that HRMC doesn't need absolute pinpoint legality to determine the principle of tax avoidance - they can just simply say "Good Try, have a tax bill....." and the burden of avoidance falls on the person on which that tax demand is levied. The K2 scheme isn't Jimmy Carr's as such, he is just one high profile client to the company managing it - apparently based in Scotland - again a link that makes the deal vulnerable - his money might be off-shore in a nominal convenience office - little more than a plaque on a mail forwarding centre wall - but not very far... Other schemes are listed here: http://m.dailymail.co.uk/money/news/article-2162245/The-tricks-British-celebrities-use-pay-tax.html Most fail in due course. So if using such it's best to reserve the equivalent in due tax for the inevitable day of reckoning plus another 20% or more for the legal proceedings - so one might as well pay up it'll be cheaper in the long run. They may be archaic and a dinosaur but HMRC love the profile of such cases as it sharpens the public will - and eventually government sit up and notice these avoidance schemes and refresh determination to eliminate more such abuse. Martin
oh yes. martin has it spot on here. although i would all rich people including our macca will benefit from such schemes...basically they are all at it and you probably would too if you could afford expensive accountants.
Can't blame em, can ya!
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martinput:
Wasn't it involvement in a similar scheme to pay it's players that has brought down Rangers football club? http://www.dailyrecord.co.uk/news/scottish-news/2012/06/10/offshore-firm-which-helped-to-set-up-rangers-tax-avoidance-scheme-is-called-deepwater-86908-23892678/ So ask the Blue side of Glasgow if there's any harm in it. One thing to remember is that HRMC doesn't need absolute pinpoint legality to determine the principle of tax avoidance - they can just simply say "Good Try, have a tax bill....." and the burden of avoidance falls on the person on which that tax demand is levied. The K2 scheme isn't Jimmy Carr's as such, he is just one high profile client to the company managing it - apparently based in Scotland - again a link that makes the deal vulnerable - his money might be off-shore in a nominal convenience office - little more than a plaque on a mail forwarding centre wall - but not very far... Other schemes are listed here: http://m.dailymail.co.uk/money/news/article-2162245/The-tricks-British-celebrities-use-pay-tax.html Most fail in due course. So if using such it's best to reserve the equivalent in due tax for the inevitable day of reckoning plus another 20% or more for the legal proceedings - so one might as well pay up it'll be cheaper in the long run. They may be archaic and a dinosaur but HMRC love the profile of such cases as it sharpens the public will - and eventually government sit up and notice these avoidance schemes and refresh determination to eliminate more such abuse. Martin
Rangers are now liquidated, they owed over 200 creditors £140 million+ if the Old Rangers are found guilty of duel contracts EBT's which they will be that could run into another £300 million because all results during the last ten years will be rewritten as a 3-0 defeat. titles & cups will be stripped and Newco Club 12 will be relegated to the bottom league if there is any integrity left in Scottish football. The Daily Record or Daily Rangers as its called up here right up until the end of this club refused for years to acknowledge how bad things were at Ibrox, even when the transfer window was open in January all we got was Rangers are linked with 19 players, now every one of the clubs players can walk away from the Newco for nothing. Rangers cheated every club they played home and abroad for years for playing players who were playing illegally. Because of Old Rangers tax avoidance many small businesses have went bust, they owe the ambulance services in excess of £40,000 yet no one from the club made any sort of apology. the money the likes of Carr & Rangers avoided paying tax on could have built quite a few hospitals, the HMRC will go after the people responsible with a bit of luck they will be jailed, in Rangers case they spent money they never had to beat Celtic, in doing so they like Carr stole from every single person in the UK. Once again cases like these show up the better off of our society as the biggest cheats, this imo is ten times worse than benefit cheating which is small fry compared to what the rich steal every year. here is a better report on the Rangers case. http://www.newstatesman.com/lifestyle/lifestyle/2012/06/ns-profile-rangers-fc
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lazydynamite88:
martinput:
Wasn't it involvement in a similar scheme to pay it's players that has brought down Rangers football club? http://www.dailyrecord.co.uk/news/scottish-news/2012/06/10/offshore-firm-which-helped-to-set-up-rangers-tax-avoidance-scheme-is-called-deepwater-86908-23892678/ So ask the Blue side of Glasgow if there's any harm in it. One thing to remember is that HRMC doesn't need absolute pinpoint legality to determine the principle of tax avoidance - they can just simply say "Good Try, have a tax bill....." and the burden of avoidance falls on the person on which that tax demand is levied. The K2 scheme isn't Jimmy Carr's as such, he is just one high profile client to the company managing it - apparently based in Scotland - again a link that makes the deal vulnerable - his money might be off-shore in a nominal convenience office - little more than a plaque on a mail forwarding centre wall - but not very far... Other schemes are listed here: http://m.dailymail.co.uk/money/news/article-2162245/The-tricks-British-celebrities-use-pay-tax.html Most fail in due course. So if using such it's best to reserve the equivalent in due tax for the inevitable day of reckoning plus another 20% or more for the legal proceedings - so one might as well pay up it'll be cheaper in the long run. They may be archaic and a dinosaur but HMRC love the profile of such cases as it sharpens the public will - and eventually government sit up and notice these avoidance schemes and refresh determination to eliminate more such abuse. Martin
oh yes. martin has it spot on here. although i would all rich people including our macca will benefit from such schemes...basically they are all at it and you probably would too if you could afford expensive accountants.
to both posts
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only last week Take That were in the news over a £26 million tax avoidance scheme. oh Dear Gary, you took you're wee medal without even blushing : http://www.guardian.co.uk/music/2012/jun/20/take-that-tax-avoidance-investigation
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Macsback:
only last week Take That were in the news over a £26 million tax avoidance scheme. oh Dear Gary, you took you're wee medal without even blushing : http://www.guardian.co.uk/music/2012/jun/20/take-that-tax-avoidance-investigation
Can't knock him for trying! Credit where credit's due!
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Darth_McCartney:
Macsback:
only last week Take That were in the news over a £26 million tax avoidance scheme. oh Dear Gary, you took you're wee medal without even blushing : http://www.guardian.co.uk/music/2012/jun/20/take-that-tax-avoidance-investigation
Can't knock him for trying! Credit where credit's due!
very true Darth, a few weeks ago a guy was jailed for skimming £800,000 he got 3 years i think, lets hope the punishment fits the crime here Ronnie Briggs got life for less