Tax breaks
Re: Tax breaks
When you can string a coherent sentence together I might bother to respond.
Re: Tax breaks
I know the reasons why. That's my point. Everything they do is legal. Levels of corporation tax are also 'efficient' for big business in the UK. Every one of the top 100 UK businesses uses the services of the leading four firms I mentioned previously, to ensure this.
Re: Tax breaks
Totally agree. It would have been good to analyse what that lost potential revenue means to the UK, and ask the serious question why the media and The Revenue target the poor, more than the rich.
Re: Tax breaks
"Due largely to Monaco's income tax free status property in Monaco ranks among the highest per m2 in the world."
Mart
Mart
Re: Tax breaks
BUT !
The business Phil runs employs people and pays its tax. It pays enough tax to keep many nurses in salary's!
Regarding Monaco tax. Phils wife WILL pay tax on the dividend, yes it will be less than UK tax but you are taxed in the country of resident, NOT the country that the "after corporation tax" has been paid. This would have been agreed before she became resident there.
There was a programme regarding M Schumacher and Swiss tax system. He paids around 10% of his yearly WORLD WIDE income (est.?100 million)
That figure is the total the swiss tax department think is acceptable for a married man, two children to pay. He is happy to pay that, so everyone is happy. The Swiss use the ten mill to spend on services, hospitals etc. etc.
The interesting part of the programme was the labour MP who insisted that was totally unfair, he said if M S was a UK resident he would be paying around ?45/?50 million.....................Now the question is Should the UK allow people like this to balance what they want to pay OR screw them into the ground and so Never receive income like this.
My personal view is that the UK could do with 10 mill to spend on nurses etc. especially as its just from a married man with two kids. ( i know of familys with 6 kids and live on benefits and have never paid a penny tax in their lifes !!!)
!wink!
The business Phil runs employs people and pays its tax. It pays enough tax to keep many nurses in salary's!
Regarding Monaco tax. Phils wife WILL pay tax on the dividend, yes it will be less than UK tax but you are taxed in the country of resident, NOT the country that the "after corporation tax" has been paid. This would have been agreed before she became resident there.
There was a programme regarding M Schumacher and Swiss tax system. He paids around 10% of his yearly WORLD WIDE income (est.?100 million)
That figure is the total the swiss tax department think is acceptable for a married man, two children to pay. He is happy to pay that, so everyone is happy. The Swiss use the ten mill to spend on services, hospitals etc. etc.
The interesting part of the programme was the labour MP who insisted that was totally unfair, he said if M S was a UK resident he would be paying around ?45/?50 million.....................Now the question is Should the UK allow people like this to balance what they want to pay OR screw them into the ground and so Never receive income like this.
My personal view is that the UK could do with 10 mill to spend on nurses etc. especially as its just from a married man with two kids. ( i know of familys with 6 kids and live on benefits and have never paid a penny tax in their lifes !!!)
!wink!
Proud to be Von Boy
-
Antoni S Chmielowski
- Posts: 50
- Joined: Fri Jul 14, 2017 2:40 am
Re: Tax breaks
I work for HMRC (Her Majestys Revenue & Customs) and enjoyed the programme.
At least it showed that HMRC are now taking the business of tax evasion seriously ! - HOWEVER the biggest scandal is that HMRC takes accountants from the big 4 accountancy firms on secondment, so they get to learn what HMRC are doing and then refuse to let HMRC employees to come on secondment in case they learn what the accountantcy firms are developing.
At least it showed that HMRC are now taking the business of tax evasion seriously ! - HOWEVER the biggest scandal is that HMRC takes accountants from the big 4 accountancy firms on secondment, so they get to learn what HMRC are doing and then refuse to let HMRC employees to come on secondment in case they learn what the accountantcy firms are developing.
Re: Tax breaks
Yeah he maybe but he's a lot richer than I am Jerry.
-
strictlybroadband
- Posts: 1925
- Joined: Fri Jul 14, 2017 2:40 am
Re: Tax breaks
Probably, but it takes some nerve to tell the Yanks to go screw themselves, so he deserves hero status for now...
[url=http://www.strictlybroadband.com/]Strictly Broadband[/url]: new movies published daily, 365 days a year!