Quote:
Originally Posted by Chris
Again, what is the difference between an error in the system and the limitations of the system? The Grauniad clearly wants to paint Cameron's family in the same light as Carr, but is failing to capture offshore investments an error, or simply a limitation inherent in a national tax system in an international context?
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Well I am not really sure about the Cameron's arrangements which is why my initial post sort of glazed over it and focused on Carr whose reported tax avoidance I understood better. I haven't read about Cameron so didn't really want to get into it.
Offshore investments being untaxed I think is more difficult. If they genuinely earned that money abroad and then store it abroad then I don't have a problem with it. If they are using offshore accounts to avoid paying tax on income that they have earned in the UK then it's immoral.
My understanding is that Carr was funnelling money, after a bunch of bizarre formation of companies of which he then resigned and rejoins, into this offshore K2 scheme and then getting back as a 'loan' which circumvented a lot of tax?