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Re: The Chronicles of Rishi
Quote:
Originally Posted by Damien
Well, people are going to pay as little as legally possible in tax. It's not immoral for someone not to overpay their taxes.
The fact it's legal is the reason to change it if you want them to pay more.
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Actually, most of the tax avoidance cases are usually firms trying to find loopholes in existing legislation, which are later proven not to exist, thus they/their customers have to pay back the tax they tried to avoid (often with interest and/or fines)*.
So, often, they were never legal in the first place, it was just people trying it on…
https://www.gov.uk/government/public...oidance-scheme
Quote:
If you are involved in any of the tax avoidance schemes shown on this page, or recognise any of the promoters, enablers or suppliers, and are not already talking to HMRC about your tax position you should contact HMRC as soon as possible. There is more information about how to do this below. You can also report a tax avoidance scheme to HMRC.
There are other schemes, promoters, enablers and suppliers that HMRC cannot publish information about at this time. This may be because:
HMRC is gathering information about the promoter, enabler, supplier or avoidance schemes being marketed
HMRC is considering representations from a promoter, enabler or supplier
the appeal period for not withdrawing a stop notice has not ended
HMRC is not aware of the tax avoidance scheme, promoter, enabler or supplier
If a tax avoidance scheme is not shown in the list, this does not mean that the scheme works or is in any way approved by HMRC. HMRC does not approve tax avoidance schemes for use.
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* this info comes from a close friend, who is a Senior Tax Partner in one of the Big Four accountancy firms, so I’m pretty sure he knows what he’s talking about
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Last edited by Hugh; 08-08-2023 at 09:41.
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