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[Finance] If you were given a totally legal way of paying less tax would you take it?

If you were given a totally legal way of paying less tax would you take it?

  • Yes

    Votes: 194 84.3%

  • No

    Votes: 36 15.7%
  • Total voters
    230


Perfidious Albion

Perfidious Albion

Well-known member
Oct 25, 2011
6,025
At the end of my tether
"The laws just need to be tighter so that if it is not fair then there are quick and easy ways to change the laws."

I'd agree with this statement in the above post. It is the Govt. Job to collect taxes and be smart enough not to leave loopholes. Some might need International agreement.
As a person, of course I would take any legal means to reduce tax. Only a fool would not. I do not have to think of my public image or huge endorsements riding on that, so no reason not to.
 




beorhthelm

beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,301
Perfidious Albion said:
I'd agree with this statement in the above post. It is the Govt. Job to collect taxes and be smart enough not to leave loopholes. Some might need International agreement.
Click to expand...

there's no "might" about it. some keep bringing up tax advisors orchestrating this with contacts in the treasury, thats true on the margins. the major avoidance are simply down to internationally agreed accountancy practices being followed. they aren't just within the law, they come about because the law tells multinational companies how to do this. the companies book sales in the lowest tax jurisdictions. but the consequences of international tax agreement are worse for many nations, so they wont agree, while talking about how something "must be done" and blaming it on offshore tax havens as a distraction.
 






S

Shropshire Seagull

Well-known member
Nov 5, 2004
8,496
Telford
Normski1989 said:
It wouldn't matter if they added another 1,000,000 staff members. HMRC is the most disorganised organisation that I've ever had the displeasure of dealing with. It's made up of hundreds of components that don't work together or communicate with each other. Every time they try to improve things, they make it worse.
Click to expand...

Crapgemini have taken it downhill since taking over the Inland Revenue IT contract from EDS back in 2004 - I've worked perm and contract on HMRC systems on and off for about 7 of the last 16 years. They've now booted out 3rd party suppliers Capgemini/Fujitsu/BT/Accenture and created their own wholly owned IT subsidiary "Revenue & Customes Digital Technology Service" [RCDTS] - will take 5 years min before anything starts to show. The one big change I noticed in my last stint Jul-16 to Jul-17 is that they now recognise the tax payer [individuals and companies] as their "customer" and the ethos of making it easy / easier for tax payers to pay their tax digitally [online] is growing in momentum now.

I can confirm that many of the HMRC systems do "talk" to each other as well as connections with other UK organisations data and other global Inland Revenue organisations too - there is a big-brother in data collection terms - they know a lot more about your financial affairs then you might realise - OFA = nuff said.
 




Cheshire Cat

Cheshire Cat

The most curious thing..
Nov 4, 2006
11,436
Sitting on a bough of a tree a few yards off...
If the rules are "wrong", then change the rules.

Its how rugby was invented.

I fail to understand the moral outrage of some people against actions that are perfectly legal and not even (morally) wrong.
 


BadFish

BadFish

Huge Member
Oct 19, 2003
17,102
Dick Swiveller said:
Would I/do I take advantage of official ways of reducing tax such as ISAs? Yes. Would I enter into a scheme that was clearly a dodge via a loophole? No. Big difference between doing a couple of cash jobs and offsetting nearly all of your tax and yet one is illegal. I'm not a raving 'leftie' or Mother Theresa type but firmly believe everyone should pay their fair share where possible. Not that I do cash jobs as it isn't much of a thing in IT but would I feel bad if I paid full tax on my salary but didn't declare a bit on the side? No. But this is all about degrees and it seems to be very highly paid people abusing the system to pay as little tax as possible which seems highly immoral to me.
Click to expand...
This is spot on.

Sent from my SM-A520F using Tapatalk
 


S

San Siro

Banned
Nov 7, 2017
72
Also if I was given a totally illegal way to avoid paying tax which was impossible for the inland revenue to know about then I wouldn't pay tax.
 






vegster

vegster

Sanity Clause
May 5, 2008
27,892
I have taken advantage of the marvellous Tax Avoidance scheme set up by recent governments..... it's called raising the tax threshold. In my view this supports and encourages employers paying the Minimum Wage or close to it, the government are effectively supporting poor paying companies....the standard rate of Income Tax is 20% but I only pay that on my earnings over £11,500 pa that means I am paying 20% tax on about £6 K ! If I was paid more, say £20k, then I would be paying 20% on £8.5 K pa and thus contribute more to support our NHS, Education and Social care to name a few.

I am amazed that the likes of lidl and Aldi can pay their staff about £2 an hour more than comparable British supermarkets yet sell their products at prices much less than comparable British supermarkets ?
 






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