Who is to blame for World poverty.... yachties according to the Guardian!

[dom]

Either you are a taxation accountant - or you are joyfully employing one.
There is no end of difference between that which is permitted and intended by the regulations and the deliberate seeking out of at best 'just legal ' but morally indefensible loopholes .

Everyone who puts money into a pension, an ISA, or indeed buys a house is tax avoiding!

Viewing tax law through a kaleidoscope of moral lenses is a recipe for disagreement.

 

[Easticks28]

Everyone who puts money into a pension, an ISA, or indeed buys a house is tax avoiding!

Viewing tax law through a kaleidoscope of moral lenses is a recipe for disagreement.

Legislated for - as opposed to not legislated against ! . But I'm sure you understand that.

 

[jordanbasset]

This thread has developed how I thought it would and is why it should not have been posted here

 

[Frogmogman]

Everyone who puts money into a pension, an ISA, or indeed buys a house is tax avoiding!

It's entirely disingenuous to suggest that someone using the framework set up by their government for those things is morally on a par with the people whose names appeared in the Panama Papers, the people who hide assets and cash offshore, and so on.

 

[Daydream believer]

Either you are a taxation accountant - or you are joyfully employing one.
There is no end of difference between that which is permitted and intended by the regulations and the deliberate seeking out of at best 'just legal ' but morally indefensible loopholes .

Morally indefensible because you cannot do it perhaps? otherwise explain to me WHY it is morally indefensible. Also explain " just legal" It is either legal or it is not. ie One either shot the wife, or one did not. ( oh hang on that might be legal )

 

[dom]

It's entirely disingenuous to suggest that someone using the framework set up by their government for those things is morally on a par with the people whose names appeared in the Panama Papers, the people who hide assets and cash offshore, and so on.

My point was that, if people have done something illegal, than buying a big flashy yacht is seriously, seriously dumb.

Speaking of dubious yacht tax financing tax dodges, look no further than the French Government, which only last November closed its longstanding "VAT Remission Scheme". This reduced VAT to 10% if a portion of the purchase price was funded by a French bank. How many on here used that scheme? Many I happen to know, and why not, it was all perfectly above board if slightly scuzzy.

With that gone, enter the Monaco VAT deferment scheme allowing European owners to legally cruise in EU waters VAT free. The only difference being that these are generally bigger boats.

If governments don't like something, they could just outlaw it, end of story.

 

[Easticks28]

Morally indefensible because you cannot do it perhaps? otherwise explain to me WHY it is morally indefensible. Also explain " just legal" It is either legal or it is not. ie One either shot the wife, or one did not. ( oh hang on that might be legal )

Not at all. I certainly could 'do it ' if I wanted to
I've heard all the arguments from those who will jump through hoops to avoid paying their proper share, usually the same ones who adhere to the mantra of 'there's no such thing as society'. They are usually the same ones who are supporters of 'law and order' , the military, infrastructure etc. and expect it to be provided .
I'm not sure they consider where the money is coming from ? The other 'mugs' who DO pay up, I guess.
One of my daughter's favourite tales as a small child was 'the Little Red Hen'.

 

[Daydream believer]

Not at all. I certainly could 'do it ' if I wanted to
to avoid paying their proper share,

With respect ---That is just your perception. You might say it is NOT proper -- BUT the law says it IS proper

 

[Easticks28]

That is just your perception. Who are you to say it is NOT proper? The law says it IS proper

I'm happy I'm me and not you.

 

[dom]

One of my daughter's favourite tales as a small child was 'the Little Red Hen'.

Wasn't the moral of the Little Red Hen story that ingenuity and hard work can pay paid great rewards? The Little Red Hen went on to eat her delicious bread and share it with her family while the other animals who failed to buy-in to her industry starved!

Just saying

 

[dom]

This thread has developed how I thought it would and is why it should not have been posted here

You can't do that! Post on a thread and then argue for it being moved because its not developing the way you like !!

 

[jordanbasset]

You can't do that! Post on a thread and then argue for it being moved because its not developing the way you like !!

I think you have that completely the wrong way around, look at my first post, post 3 on this thread, I always said it should not have been posted here

 

[dom]

I think you have that completely the wrong way around, look at my first post, post 3 on this thread, I always said it should not have been posted here

Which is of course fine.

We can't all like every thread, in which circumstances it might be better to ignore it or perhaps go read only?

 

[Bobc]

Nice photo of North Gorda Sound. That big jetty wasn't there when I was there last. There was a much smaller one with a sunken boat just off it and a red telephone box at the end which had a shower in it.

In fact, I've just found some photos

 

[capnsensible]

From each according to his ability, to each according to his needs. Or something.

 

[Stemar]

I further suggest that there is nothing wrong with tax avoidance.

I seem to recall a legal ruling to the effect that everyone is entitled to arrange their affairs in such a way as to minimise their tax bill, As long as they stay on the right side of the line between avoidance and evasion, it's up to HMRC to write the rules in such a way as to get the required outcome - and income. If they don't like a particular scheme, they just have to change the rules.

Of course, the megarich can afford better accountants and lawyers than HMRC, so HMRC will always be two or more steps behind.

There is no end of difference between that which is permitted and intended by the regulations and the deliberate seeking out of at best 'just legal ' but morally indefensible loopholes .

I agree. but most of the megarich didn't get that way by being morally defensible. Get to work closing those loopholes, HMRC.

 

[dansaskip]

Its a typical misinformation post. Seven Spades uses an eye grabbing headline for his post which completely misrepresents the Guardian article. There is not one word or mention of yachts or yachties in the article. The article is about tax abuse and money laundering. Seven Spades aught to apologise for trying to mislead. Indeed I believe this comes under the category of Fake News.
Yes they have used a stock photo - common practice in news articles of Gorda Sound from BVI you can almost see Branson's private island. And yes the BVI is notorious as a haven for tax avoidance and money laundering.

 

[Babylon]

This thread has developed how I thought it would and is why it should not have been posted here

Maybe so. But it is here... and I for one (who'd rather chew nails than enter the Lounge cesspit) happen to enjoy the relatively well-manned chat and banter around this sort of subject - makes a nice change from the same-old.

 

[Gary Fox]

From each according to his ability, to each according to his needs. Or something.

The quote is correct. Karl Marx, 1875. It doesn't seem to be working out too well, though

 

[Daydream believer]

I'm happy I'm me and not you.

I will support that wholeheartedly. But we still have to live together in the same environment
So you may as well get used to it