Anyone going to the Downing Street Protests?

[drew]

How about the other points i made, how can you defend letting building companies OWN the buildings lock stock and barrel and renting everything including the kitchen sink back at exorbitant prices over 30 years. This was in the 13 years of mismanagement by Labour.......but you would rather deflect to the Tories and ignore the complete incompetence that WE will be paying for until roughly 2035. By the way i have little time for the Tories either, but Labour (the working mans party joke) always feck things up.

Where did I actually defend PFI? I'm not in favour of it but just pointed out that something needed to be done about school and hospital buildings and the like.

 

[Diablo]

So Cameron has paid average of £66k tax over last five years. That will presumably pay the benefits of several of the protesters. Should they be looking for a job instead of protesting about the people who pay for them??

 

[glasfryn]

What money did he place in a foreign bank to minimise his tax payments.

He has publicly stated he owned a number of foreign shares on which he paid UK income tax on the dividends, and would have paid capital gains tax if his liability had been above the threshold.

Perhaps you would like to stick to the truth to support your views, you may find it helpful.

30k or is everyone lying about that if he was not putting it in there to minimise tax payments why put it in there in the first place
and soon got it out when he came to power
maybe it would still be in there if he had not come to power
we will never know
bye slippery dave

 

[Butch Willykins]

30k or is everyone lying about that if he was not putting it in there to minimise tax payments why put it in there in the first place

FFS. I would turn off the computer and go for a walk as you clearly do not know what you're talking about.

 

[drew]

There have been assertions earlier on in this thread that he stole from the taxpayer by using an offshore investment. Which as we know now, is tripe.

The only benefit he personally made from an offshore investment was the capital gain on that investment which was not enough to pay tax on as it fell within his personal capital gains tax allowance. He declared it on his tax return. This is the same allowance that everyone else has. There is no evidence so far to suggest that he personally gained from a tax haven. Do not confuse offshore investments with tax havens as they are not the same thing. There is nothing stopping you or I from investing offshore - as long as we declare it and pay tax on it as necessary, we have done nothing wrong at all. The only barrier to that of course is lack of money to do so!

Whoosh, again.

Why was he so publicly critical of Jimmy Carr?

Finally, has he stated that he paid income tax on the dividends he received between 1997 and 2010 when he sold the shares?


Edit: I see someone else has stated he did pay tax on the dividends so we'll accept that as read then.

 

[Czechmate]

Didn't a lot of our Councils invest in Icelandic banks recently ? What's that all about ? and got their fingers burnt !

 

[drew]

I suspect that there will be more to come out once people have picked over the returns in far more detail.

For example, he inherited £300k from his dad, presumably his siblings inherited a similar amount. He then received two payments from his mother to balance up the legacy!!! What is that all about. Was that a way of avoiding IHT on part of his dad's estate (there would be no IHT payable on what is passed on to his spouse). If the £200k had been part of the original legacy then surely it would have been subject to 40% IHT (before being passed on to CDM). Will be interesting to see whether there is any information as to how much IHT was paid on his estate which was apparently worth £2.74m.

Questions now being asked about the IHT!

http://www.bbc.co.uk/news/uk-politics-36007718

 

[studio150]

30k or is everyone lying about that if he was not putting it in there to minimise tax payments why put it in there in the first place
and soon got it out when he came to power
maybe it would still be in there if he had not come to power
we will never know
bye slippery dave

Oh dear I see that basic financial matters are beyond your grasp. He did not place £30k in an offshore bank to reduce his tax liabilities. An amount of money was used to purchase unit trusts which on a basic level you should be aware can go up or down in value. Dividends received where subject to UK tax and that tax was paid. Eventually the units were sold and no capieal gains liability arose.
I would suggest you refrain from posting further on this subject until you have read and understood the Janet and John book on UK taxation and investments. Once you are better informed than you are now please let us know how his tax liabilities were minimised.

 

[KZNSeagull]

Whoosh, again.

Why was he so publicly critical of Jimmy Carr?

Finally, has he stated that he paid income tax on the dividends he received between 1997 and 2010 when he sold the shares?


Edit: I see someone else has stated he did pay tax on the dividends so we'll accept that as read then.

I am sorry but I am not the one being whooshed.

Jimmy Carr did not pay tax on his income by using a tax haven. David Cameron has not used a tax haven. It really is that simple.

DC will have to pay Inheritance tax on the 200k gift from his mother if his mother dies within 7 years of the gift. That is explained in the article that you link to later in the thread. Again, nothing dodgy or illegal there.

 

[Bigtomfu]

I suspect that there will be more to come out once people have picked over the returns in far more detail.

For example, he inherited £300k from his dad, presumably his siblings inherited a similar amount. He then received two payments from his mother to balance up the legacy!!! What is that all about. Was that a way of avoiding IHT on part of his dad's estate (there would be no IHT payable on what is passed on to his spouse). If the £200k had been part of the original legacy then surely it would have been subject to 40% IHT (before being passed on to CDM). Will be interesting to see whether there is any information as to how much IHT was paid on his estate which was apparently worth £2.74m.

But it's legal. I really don't understand this argument.

 

[drew]

I am sorry but I am not the one being whooshed.

Jimmy Carr did not pay tax on his income by using a tax haven. David Cameron has not used a tax haven. It really is that simple.

DC will have to pay Inheritance tax on the 200k gift from his mother if his mother dies within 7 years of the gift. That is explained in the article that you link to later in the thread. Again, nothing dodgy or illegal there.

The question is whether it was done to deliberately to avoid IHT due from his father's estate. As for Jimmy Carr, did he actually break the law? His morals were brought into question by Cameron.

As for Blairmore, it has been reported that it was set up in Panama so that it would never have to pay tax in the UK on it's profits. Papers were signed by all sorts of Panamanian locals so there was no suggestion it could be construed as British and subject to UK taxes. Cameron chose to invest in his father's business and one would imagine he would have known why it was in Panama rather than London. Legal but no different to the morality of Carr.

 

[JC Footy Genius]

In the past six years, Mr Cameron earned a total of almost £1.1m and paid about £400,000 in income tax, according to the three-page summary.

Not enough, I want to see the receipts for all the pocket money he was given during his childhood #politicsofenvy

 

[Bigtomfu]

The problem is the hypocrisy. You're right, he hasn't done anything illegal but then again, I'm not sure Jimmy Carr had either. Can't wait for his next monologue on the issue!!!

Exactly and I found that a particularly unsavoury witch hunt by the left wing press. Person with money listens to advise of advisor shocker and takes said advise and invests money within the confines of the law to minimise - not evade - tax.

What's next? EIS/SEIS schemes? Jesus.

 

[glasfryn]

Oh dear I see that basic financial matters are beyond your grasp. He did not place £30k in an offshore bank to reduce his tax liabilities. An amount of money was used to purchase unit trusts which on a basic level you should be aware can go up or down in value. Dividends received where subject to UK tax and that tax was paid. Eventually the units were sold and no capieal gains liability arose.
I would suggest you refrain from posting further on this subject until you have read and understood the Janet and John book on UK taxation and investments. Once you are better informed than you are now please let us know how his tax liabilities were minimised.

then why did he put it in there in the first place
not beyond my grasp that he put it in a foriegn bank IS THAT IN DISPUTE why not put it in a british bank
I am and never have disputed he paid some of his tax, my gripe is his father made money from it and supported his family with the money he made in a foreign bank
it has never been about the tax itself I don't give a tinkers cuss about how much tax he has or has not paid what I do care about is his thinking its ok to admonish people about where they put there money when he and his family do exactly the same.
he is a slippery git and I fear and so should you that there is more to come.
heres a question for you why did he not come clean last Monday?

 

[glasfryn]

the question is whether it was done to deliberately to avoid iht due from his father's estate. As for jimmy carr, did he actually break the law? His morals were brought into question by cameron.

As for blairmore, it has been reported that it was set up in panama so that it would never have to pay tax in the uk on it's profits. Papers were signed by all sorts of panamanian locals so there was no suggestion it could be construed as british and subject to uk taxes. Cameron chose to invest in his father's business and one would imagine he would have known why it was in panama rather than london. Legal but no different to the morality of carr.

we are talking about a man who does not know which football team he supports

 

[beorhthelm]

Jimmy Carr did not pay tax on his income by using a tax haven. David Cameron has not used a tax haven. It really is that simple.

thats not quite correct, as i understand it. Carr used a system common among freelancers and contractors to have earnings paid to an offshore company. they pay local taxes and repatriate the cash in such a way to reduce tax to a few %. it could be seen as agressive avoidance because they could instead use UK based Ltd shell and pay more that way. Cameron has put money in an off shore trust and when selling the shares paid CGT on the increased value. and then the family have reduced their IHT on Cameron Snr dieing and leaving a substantial estate.

what Cameron should probably have done is been a shade less bombastic about use of offshore accounts or companies when he's been using things that look similar to the uninitated public. as an ex PR person and politican he's been guilty of getting caught out on the charge of hypocrisy.

 

[glasfryn]

In the past six years, Mr Cameron earned a total of almost £1.1m and paid about £400,000 in income tax, according to the three-page summary.

Not enough, I want to see the receipts for all the pocket money he was given during his childhood #politicsofenvy

so do I now
if he had come clean on Monday he might have got away with it but even the right wing papers will not let it go now

 

[Tom Hark Preston Park]

A million people marched on the streets of London to protest against the immoral and illegal invasion of Iraq. Did an unprecedented level of peaceful civil protest change anything? Did it f*ck!

 

[DataPoint]

no I have not got a private pension, but if I did have one it would be in this country

Relying on state handouts! - That's the spirit. Why be responsible?

 

[drew]

thats not quite correct, as i understand it. Carr used a system common among freelancers and contractors to have earnings paid to an offshore company. they pay local taxes and repatriate the cash in such a way to reduce tax to a few %. it could be seen as agressive avoidance because they could instead use UK based Ltd shell and pay more that way. Cameron has put money in an off shore trust and when selling the shares paid CGT on the increased value. and then the family have reduced their IHT on Cameron Snr dieing and leaving a substantial estate.

what Cameron should probably have done is been a shade less bombastic about use of offshore accounts or companies when he's been using things that look similar to the uninitated public. as an ex PR person and politican he's been guilty of getting caught out on the charge of hypocrisy.

Exactly, the hypocrisy and the fact he has argued against offshore unit trust companies having to have the same transparency as other companies, with the knowledge that was what his dad had been involved in!!!