Tax havens exposed in huge law firm leak

[nomadking]

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.

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.

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.

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 ----------

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.

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

[Osem]

Some folks clearly are so keen to jump on the hate bandwagon that they haven't bothered to first take a look at their own affairs. There is an astonishing amount of hypocrisy going on right now and Cameron's certainly isn't going to be the only red face which is going to be exposed for all to see. Of course they rely on the often short and highly selective memories of those they aim to influence. Unfounded innuendo is all that's required for some people to present as facts...

It's all rather familiar isn't it - the usual suspects rushing rabidly to grab the headlines before they scuttle off when their cynical opportunism backfires and they're exposed to be what they really are.

Originally Posted by martyh

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 ----------



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

For info, here is a table of Countries Corporation Taxes.

https://home.kpmg.com/xx/en/home/ser...tes-table.html

[Osem]

I see those 'thousands' are out marching again, this time demanding Cameron's resignation about well, I'm not sure they really know ,apart from him being a Tory who at this stage has done nothing illegal and something an awful lot of other people/organisations have done (including those who've queued up to stick the knife in) without too much scrutiny or complaint from anyone much.

Anyway, from what little I've seen so far, the 'thousands' don't seem to be that many and I'm actually wondering whether they're the same countless 'thousands' who thronged towards and managed to half fill Trafalgar Square a while back to worship the likes of Corbyn and Sturgeon as they denounced Trident.

http://www.dailymail.co.uk/news/arti...pers-leak.html

Events started at 11am and around 2,000* people are expected at Downing Street over the course of the day.

Wow I'm staggered by the numbers who feel so outraged.

(* 'Thousands' sounds a lot more impressive than 2 or 3 thousand doesn't it.)

[papa smurf]

Originally Posted by Osem

I see those 'thousands' are out marching again, this time demanding Cameron's resignation about well, I'm not sure they really know ,apart from him being a Tory who at this stage has done nothing illegal and something an awful lot of other people/organisations have done (including those who've queued up to stick the knife in) without too much scrutiny or complaint from anyone much.

Anyway, from what little I've seen so far, the 'thousands' don't seem to be that many and I'm actually wondering whether they're the same countless 'thousands' who thronged towards and managed to half fill Trafalgar Square a while back to worship the likes of Corbyn and Sturgeon as they denounced Trident.

http://www.dailymail.co.uk/news/arti...pers-leak.html



Wow I'm staggered by the numbers who feel so outraged.

(* 'Thousands' sounds a lot more impressive than 2 or 3 thousand doesn't it.)

yes its awful when people play tricks with numbers and hide the true facts about those numbers

Originally Posted by martyh

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 ----------



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

You have deliberately misunderstood me.My financial affairs are beyond reproach so I have nothing to worry about..and I'm not envious at all for people who are hard working and making money.I just want tax loopholes plugged and for there to be less avenues for money laundering and for EVERYONE to pay their fair share of the tax burden.It's criminality I want to be sorted out.

[denphone]

Originally Posted by Maggy J

You have deliberately misunderstood me.My financial affairs are beyond reproach so I have nothing to worry about..and I'm not envious at all for people who are hard working and making money.I just want tax loopholes plugged and for there to be less avenues for money laundering and for EVERYONE to pay their fare share of the tax burden.It's criminality I want to be sorted out.

This.

[Osem]

Originally Posted by papa smurf

yes its awful when people play tricks with numbers and hide the true facts about those numbers

Even more so when they actually break the law doing so eh?

Anyway having heard Red Ken pontificating oh so morally again this morning on LBC I found this interesting:

Ken Livingstone has gone on Russia Today to call for Cameron to be jailed over his taxes. That is the same Ken Livingstone who sheltered his earnings in a company so he could save £1,000-a-week in tax. Ken paid 21% corporation tax rate on £319,478 of earnings by invoicing to Silveta Ltd, instead of paying the 50% top rate of income tax. He also owned 99% of a similar company twice prosecuted for non-payment of taxes. Ken’s effective tax rate in 2012 was 14.5%. Today he laughably calls Cameron “the most hypocritical prime minister of my lifetime”…

http://order-order.com/2016/04/08/ke...tax-hypocrisy/

On LBC this morning he actually called Cameron "the most dishonest prime-minister of my lifetime..."

Maybe his memory is as suspect as his morals.

It's the old 'throw enough *stuff against the wall, some of it might stick' ploy - see Tom Watson, John Mann for other examples; they both knew the value of Cameron's shareholding was under the reporting limit, but still bloviated on about it anyway....

*ordure

[heero_yuy]

Given that Cameron's the stay's fan boi, sticking mud is a Brexit's dream.

[Osem]

Originally Posted by Hugh

It's the old 'throw enough *stuff against the wall, some of it might stick' ploy - see Tom Watson, John Mann for other examples; they both knew the value of Cameron's shareholding was under the reporting limit, but still bloviated on about it anyway....

*ordure

I seem to recall Livingstone using ignorance of his financial affairs as an excuse. Odd how he seems to be more interested in Cameron's than his own?

Curiously, for a man who repeatedly emphasised his mastery of detail, he pleaded ignorance when quizzed about his tax affairs. Most surprisingly of all, he said he has no idea how much his wife Emma Beal is paid by Silveta Ltd, which they set up to handle his private earnings and expenses.

http://www.standard.co.uk/news/mayor...t-7660632.html

[TheDaddy]

Originally Posted by Hugh

It's the old 'throw enough *stuff against the wall, some of it might stick' ploy - see Tom Watson, John Mann for other examples; they both knew the value of Cameron's shareholding was under the reporting limit, but still bloviated on about it anyway....

*ordure

Really I thought it was the old stall, tell half truths and general sneakieness that allowed for the muck to be slung. If he'd told the truth at the start this would've gone away in an afternoon and I still don't think he's being truthful about not benefiting from off shore cash.

[papa smurf]

Originally Posted by TheDaddy

Really I thought it was the old stall, tell half truths and general sneakieness that allowed for the muck to be slung. If he'd told the truth at the start this would've gone away in an afternoon and I still don't think he's being truthful about not benefiting from off shore cash.

well he's in the limelight now

http://www.dailymail.co.uk/news/arti...pers-leak.html

Originally Posted by TheDaddy

Really I thought it was the old stall, tell half truths and general sneakieness that allowed for the muck to be slung. If he'd told the truth at the start this would've gone away in an afternoon and I still don't think he's being truthful about not benefiting from off shore cash.

I agree that he should have told it all at the beginning - that was an error on his part (which he has owned).

---------- Post added at 21:15 ---------- Previous post was at 21:13 ----------

Originally Posted by papa smurf

well he's in the limelight now

http://www.dailymail.co.uk/news/arti...pers-leak.html

Class War and Socialist Worker - it doesn't take much to get them marching....