Stranded
7:16 Tue Apr 5
Re: The shit well and truly about to hit the fan
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mashed. A big thing for quite a few years has been the property version of what Chim is describing below. You don't own your property, a company registered in a tax haven does. They then, out of the kindness of their heart, let you live in it for nothing or for a peppercorn rent.
The more recent one now running alongside that, is huge amounts of foreign money being washed/safeguarded by turning it into property in London.
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BRANDED
7:00 Tue Apr 5
Re: The shit well and truly about to hit the fan
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yeah i've got two houses on that list behind me one bout for 4 mill, done up and sold for 10 mill. no one in it. the one next to it was bought for5.5 mill and they are spending about 3 mill or more on it. only builders in it. some sound like londoners as i can understand their swearing.
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mashed in maryland
6:50 Tue Apr 5
Re: The shit well and truly about to hit the fan
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Stranded/Branded
Supposedly one of the reasons that property prices in London are so astronomical is because of foreign billionnairs buying houses there and not actually living there, sometimes in their businesses' name to avoid paying tax back home. Go around Knightsbridge etc at night now it's weird, no houses have any lights on, probably cos half of them are completely empty.
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Stranded
6:28 Tue Apr 5
Re: The shit well and truly about to hit the fan
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For any that might be interested. Private Eye did an interactive map of Britain, showing properties purchased freehold or leasehold by overseas companies in the last nine years. Try zooming down to street level on London. Orange is freehold and covers the area of the property, purple is leasehold and just marked with a pin.
http://www.private-eye.co.uk/registry
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BRANDED
6:23 Tue Apr 5
Re: The shit well and truly about to hit the fan
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SO.
Avoiding paying tax is something all kinds of people regularly do. The government offers loads of legal and legit ways of doing it. Likes ISAs or EISAs or Venture capital schemes or Entrepreneurs relief or pensions or no capital gains on your principal house. The list is endless. Many people take advantage of some or even all of these.
Tax dodging is done by millions without batting an eyelid. Cash transactions usually will have some form of non tax payment involved in them. Lots of one man bands and small companies do low level tax avoidance.
Tax avoidance by the very rich is done on an industrial scale. I know some quite rich people who consider tax avoidance almost as the first consideration which always staggers me. However, these same people have also payed a lot of tax. I guess they feel a bit pissed off.
Tax dodging by the very rich is also done as a matter of course by loads of them
. I know one bloke who has a flat in Monte Carlo and is domicile there but has hardly ever lived there. He claims that he pays more than enough other taxes.
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charleyfarley
6:14 Tue Apr 5
Re: The shit well and truly about to hit the fan
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First victim Iceland PM resigned
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chim chim cha boo
6:07 Tue Apr 5
Re: The shit well and truly about to hit the fan
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H&P
I worked for the odious cunt who invented that dodge.
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Hammer and Pickle
5:59 Tue Apr 5
Re: The shit well and truly about to hit the fan
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Careful chim - that's almost right-on.
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chim chim cha boo
5:55 Tue Apr 5
Re: The shit well and truly about to hit the fan
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Mashed, a mysterious company in a British dependency with its own banking rules (total sovereign secrecy that makes it impossible for outside agencies or even governments to get information about companies and directors that bank there) give you in Britain a loan. You don't have to tell anyone why they loaned you the money or your relationship with the bank. It's strictly between you and that shady company. The important point is that you pay no UK tax on a foreign loan. Also, nobody can check if you're paying that loan back.
So, your wages might come to a million quid before tax. Those wages go straight into an offshore company and the company then gives you a series of loans that add up to a million a year.
Other than giving the lawyer who sets the whole dodge up for you his cut you get to keep the lot.
Technically no crime has been committed and your pals think its all rather clever and a little game between you and the tax-man. It's morally outrageous but that tends to not be a problem for the rich who say things like 'my money would only go to scroungers anyway'. They then put their kids through Eaton and they end up running the country.
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madeeasy
2:02 Tue Apr 5
Re: The shit well and truly about to hit the fan
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Mashed it is about Company profits. personally unless you lived in the UK for less than 90 days then you would have to pay tax on that money that you earned here. You would also have to show that you are no longer a citizen, so would have to give up your home etc, unless of course a Cayman company bought it from you for cash and rented it to you at a decent yearly rate for you to stay in when you came over here.
They tightened up the rules on the 90 days as well, as before they didn't used to count the day travelling or leaving, but now do. I may be slightly wrong there but I think I am about right.
However the money that the company earned as profit could stay in the Cayman and then you wouldn't have to pay tax on that.
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mashed in maryland
1:55 Tue Apr 5
Re: The shit well and truly about to hit the fan
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So if I set up my own removals firm (ie; bought a van) and registered it in the Cayman Islands or something I wouldn't need to fill out all them cunty forms and write cheques etc and every penny I get given is mine?
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The Kronic
1:48 Tue Apr 5
Re: The shit well and truly about to hit the fan
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Tax avoidance is when you're kind enough to inform HMRC that you're a thieving tax dodging cunt and is thus legal and applauded.
Tax evasion is when you don't inform HMRC that you're a thieving tax dodging cunt and is thus illegal and frowned upon, but you're highly unlikely to be prosecuted anyway
HTH
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mashed in maryland
1:41 Tue Apr 5
Re: The shit well and truly about to hit the fan
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Can anyone sum up the difference between tax avoidance and tax evasion please? In laymans terms? In words a 5 year old would understand?
I'm assuming they're pretty much the same thing but one is slightly more legal than the other?
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Dapablo
1:41 Tue Apr 5
Re: The shit well and truly about to hit the fan
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We have a load of cunts who want to be exactly like them unfortunately, everyone wants to be the one ripping everyone else off. Thatchers ill gotten spawn "greed is good".
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Brain Damaged
1:30 Tue Apr 5
Re: The shit well and truly about to hit the fan
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There are 28,000 inhabitants on the British Virgin Islands and there are 660,000 registered companies there too.
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chim chim cha boo
1:04 Tue Apr 5
Re: The shit well and truly about to hit the fan
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I'm hoping they get around to leaking Belize files which will reflect some very bad light on the players at a club that can stick its flag up its arse. They are London's most 'tax efficient' club.
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goose
12:53 Tue Apr 5
Re: The shit well and truly about to hit the fan
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i saw a video today that alledged that the Rothchilds run every national bank in the world bar 3.
this is BS surely??
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RM10
12:39 Tue Apr 5
Re: The shit well and truly about to hit the fan
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All this will be swept under the carpet and then then all the blue rinsers will start on benefits again...same old
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overbyyer
12:29 Tue Apr 5
Re: The shit well and truly about to hit the fan
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The other thread was locked - can only assume that WHO Holdings Ltd. is registered in Panama.
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overbyyer
12:26 Tue Apr 5
Re: The shit well and truly about to hit the fan
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The general apathy within UK society helps these things along, there will be a few stiff words from Cameron along the lines of ' this government is working hard to ensure that organisations pay their fair share of tax blah blah blah', then Osborne will come out with his mantra that 'the UK economy is doing better than any other in the EU blah blah blah'.
Then the public will lose interest and the momentum will be lost.
I'm hoping that a high profile individual will be identified, but even then, would the UK public take to the streets like the people of Iceland have?
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orwells tragedy
10:34 Mon Apr 4
Re: The shit well and truly about to hit the fan
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Be great if we can nail these greedy people and get some honest decent people in positions of power.
Meet the new boss, same as the old boss.
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