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Originally Posted by Chris
Possibly, however if a loophole is acknowledged and yet not closed, what do you make of it then?
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That either they are working on it or someone in a position of powers stand to benefit from it. I am pretty sure HMRC said they are looking into the loophole that Carr, and about 1000 others, are using but presumably they need to consider how to close it without impacting upon genuine investment. Unfortunately as The Times' story mentioned, the company involved are used to this and will simply go and exploit a different loophole.
---------- Post added at 22:38 ---------- Previous post was at 22:35 ----------
Quote:
Originally Posted by chris9991
If there is a morally wrong amount of tax to pay, when does it become a morally right amount? Or is all dodging wrong? And if it is, do I have to get rid of my ISA?
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An ISA is a scheme designed to promote saving and using the tax system to do it. You're abiding by the sprit of the law and the system when you use it, just as I benefited when my student fees for University were tax exempt.
It's morally wrong when you know you're exploiting a bug, an error, in the system to pay less than you're meant too. It's a cheat.