Quote:
Originally Posted by Maggy J
I think the shares issue is a sideshow..I want more pressure/leverage being used to get this government to actually to ensure more transparency over offshore companies/individuals tax affairs and to finally get some of the tax being salted away back into this country's coffers so we can pay down the country's debt.
Soon there is going to be no more fat to pare down to pay off that debt.
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Would you be happy having all your financial affairs posted for all to see .I think things are getting ridiculous now where people are pilloried for being well off or financially astute
---------- Post added at 10:14 ---------- Previous post was at 10:07 ----------
Quote:
Originally Posted by nomadking
It may have escaped your notice, but in this country tax is NOT paid on capital or money invested. It is paid on the income that arises from it.
If the fund had been set up in a non-tax haven country that wasn't the UK, the amount of UK tax paid wouldn't have been any more and might have been less as the tax on the company income(rather than the fund income) would have cut into the dividends and REDUCED the UK tax paid by any UK shareholders.
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Here's another way to look at this. This country has one of the lowest corporation tax limits in the world meaning that companies set up here instead of other countries because the tax rate is lower ,most definitely tax avoidance just of the sort we approve of because we benefit