The Politics Thread

[Abdoulaye's Twin]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

But they've been told to be angry by the press, who in no way are supporting Boris and his chums in their bid to get out of the EU. If Cameron was supporting Brexit then I doubt the press would be going after him at the moment.

[thebish]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

aye - hilarious - cos, y'see an ISA - a savings account invented and encouraged by the UK government is entirely the same thing as an anonymous offshore tax-haven discouraged by the UK government...

[Worthy4England]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

I don't think he's been wrongly accused of tax avoidance - splitting £500k from daddy into a lump of £300k and two lumps of £100k from mummy is tax avoidance - seems to be legitimate but tax avoidance nonetheless - tax evasion - I'm not seeing any of that yet...

From what I've seen so far, it looks like a bit of a non-story, that just happens to have a few largish numbers within it, but I would say, it's a bit rich to think it's ok to benefit from these avoidance tactics (rather than evasion) all the way until you think you might become PM at which point you flog your shares in what seems to be a legitimate overseas scheme in case anyone finds out you had any...does rather smack of someone who doesn't think it's "quite right"...

[Hoboh]

Mr Corbyn and Lib Dem leader Tim Farron have both pledged to publish their tax returns in the coming days.

SNP leader Nicola Sturgeon has already done so.

But Tory Cabinet Minister Amber Rudd battled to resist the plan, claiming it would put rich people off standing for Parliament.

“I think we have to think very carefully about the balance between transparency and privacy,” she said on Sky’s Murnaghan show.

“We don’t want to put people off who might have substantial assets... I don’t think it’s necessarily the right way to go.”

And why should she? Do you fancy publishing yours? As I understand it, no one has broken any laws, committed any tax offences or done anything remotely criminal?

I'd guess we won't be seeing a tax return from her anytime soon then?

I do not hold a public position that means I pass laws on taxation and other financial affairs in which I may have a vested interest.

If I had to publish my financial affairs due to having to be seen to have clean hands, then I would, if I didn't think it was right I'd find another career.

Is she about to resign?

[thebish]

[Bruce Rioja]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

aye - hilarious - cos, y'see an ISA - a savings account invented and encouraged by the UK government is entirely the same thing as an anonymous offshore tax-haven discouraged by the UK government...

Tantamount to the same thing. Both ways of saving cash tax-free.

[Worthy4England]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

aye - hilarious - cos, y'see an ISA - a savings account invented and encouraged by the UK government is entirely the same thing as an anonymous offshore tax-haven discouraged by the UK government...

Tantamount to the same thing. Both ways of saving cash tax-free.

Whilst both being "tax legitimate" (assuming any due taxes are paid). I don't think they're tantamount to the same thing - there are rules around what can be legitimately be classed as an ISA that wouldn't for example include bearer shares (AFAIK) - you know them things that help folks avoid messy taxes on transfer of ownership. If they were anything like the same thing, why would anyone bother their ass to set something up as complicated as a offshore investment vehicle?

[Prufrock]

Aye, "tax avoidance" means things that are technically legal but against the spirit of the laws. That clearly doesn't apply to ISAs.

[BWFC_Insane]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

aye - hilarious - cos, y'see an ISA - a savings account invented and encouraged by the UK government is entirely the same thing as an anonymous offshore tax-haven discouraged by the UK government...

Tantamount to the same thing. Both ways of saving cash tax-free.

Good god. That statement is truly one of the most ridiculous things I have ever read.

ISA's are designed with limits to promote modest annual savings. They are about as similar to offshore tax havens as a country hall bake off is to an armed robbery.

What next? Serious fraud is tantamount to taking an extra napkin from Costa coffee?

[KeyserSoze]

[Hoboh]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

aye - hilarious - cos, y'see an ISA - a savings account invented and encouraged by the UK government is entirely the same thing as an anonymous offshore tax-haven discouraged by the UK government...

Tantamount to the same thing. Both ways of saving cash tax-free.

Good god. That statement is truly one of the most ridiculous things I have ever read.

ISA's are designed with limits to promote modest annual savings. They are about as similar to offshore tax havens as a country hall bake off is to an armed robbery.

What next? Serious fraud is tantamount to taking an extra napkin from Costa coffee?

That's theft!
Napkins costa bit of money.

[Bruce Rioja]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

aye - hilarious - cos, y'see an ISA - a savings account invented and encouraged by the UK government is entirely the same thing as an anonymous offshore tax-haven discouraged by the UK government...

Tantamount to the same thing. Both ways of saving cash tax-free.

Good god. That statement is truly one of the most ridiculous things I have ever read.

ISA's are designed with limits to promote modest annual savings. They are about as similar to offshore tax havens as a country hall bake off is to an armed robbery.

What next? Serious fraud is tantamount to taking an extra napkin from Costa coffee?

Have you ever read any of your own posts? (short pitched deliveries down leg being perfectly good balls, anyone?)

More shite from you, I see. Cameron's done nothing wrong. You don't like it because it's Cameron. Stealing napkins is still theft, by the way!

And answer me this - are they not both ways of saving money whilst avoiding tax, Hyperbole Boy?

[Hoboh]

I'm afraid I'm well and truly in the pay your proper taxes bracket, not hide wealth in legal but morally bankrupt overseas accounts.
That's what Cameron has done alongside many others, Christ I'll bet most of them would struggle to improve their current life style with any more cash.

[BWFC_Insane]

Busy laughing here at people with ISAs and who make AVCs castigating the PM, wrongly, over tax avoidance

aye - hilarious - cos, y'see an ISA - a savings account invented and encouraged by the UK government is entirely the same thing as an anonymous offshore tax-haven discouraged by the UK government...

Tantamount to the same thing. Both ways of saving cash tax-free.

Good god. That statement is truly one of the most ridiculous things I have ever read.

ISA's are designed with limits to promote modest annual savings. They are about as similar to offshore tax havens as a country hall bake off is to an armed robbery.

What next? Serious fraud is tantamount to taking an extra napkin from Costa coffee?

Have you ever read any of your own posts? (short pitched deliveries down leg being perfectly good balls, anyone?)

More shite from you, I see. Cameron's done nothing wrong. You don't like it because it's Cameron. Stealing napkins is still theft, by the way!

And answer me this - are they not both ways of saving money whilst avoiding tax, Hyperbole Boy?

You're trying to defend something for the sake of it for some unknown reason. I haven't even mentioned Cameron not delved into the complexities of his finance.

I merely responded to your argument that offshore tax havens are just ISA's for million and billionaires. Which has to be the most ridiculous thing I have seen.

I see absolutely no point discussing this any further with someone who is either so ignorant as to completely miss the point or fail to understand the issue. OR someone who will just defend what the perceive as their political allegiance no matter what.

[Enoch]

Aye, "tax avoidance" means things that are technically legal but against the spirit of the laws. That clearly doesn't apply to ISAs.

If something is "technically legal", does that constitute legal, or illegal?

[Bruce Rioja]

You're trying to defend something for the sake of it for some unknown reason. I haven't even mentioned Cameron not delved into the complexities of his finance.

I merely responded to your argument that offshore tax havens are just ISA's for million and billionaires. Which has to be the most ridiculous thing I have seen.

I see absolutely no point discussing this any further with someone who is either so ignorant as to completely miss the point or fail to understand the issue. OR someone who will just defend what the perceive as their political allegiance no matter what.

Which is you, so that's fine. If you're too thick to understand that the principle is exactly the same then I can't possibly discuss this with you. You do understand the seven year rule? Actually, you probably don't. Go and Google it.

[Lord Kangana]

A straight answer to that would be that they are exploitations of laxity in our legislation that failed to deal with the problem they were trying to deal with. (refered to in certain media as loopholes to lend them some sort of legitimacy).

They were never meant to be there, and it was never intended for them to be exploited. Hence against the spirit of law.

Though I'm not entirely sure that's the angle you were aiming for.

[Bruce Rioja]

Well, let's ask BWFC-Inane how many family holidays he enjoyed as a youngster and so on.

[Montreal Wanderer]

Aye, "tax avoidance" means things that are technically legal but against the spirit of the laws. That clearly doesn't apply to ISAs.

I agree that tax avoidance may raise moral questions, but not legal ones. Governments wasting tax dollars also raises moral questions. Further, governments can change the law and close loopholes. We are entitled to use the law to our advantage and the United States Supreme Court has stated that "The legal right of an individual to decrease the amount of what would otherwise be his taxes or altogether avoid them, by means which the law permits, cannot be doubted." I know nothing about ISAs, but we have tax free savings accounts (TFSAs) in which can put certain sums per year - is this similar?

[Lord Kangana]

Same thing Monty. Though I think we're in danger of letting the tail wag the dog if we allow the judiciary to decide national taxation policy.