Bad Publicity For The Isle Of Man Again

[Rog]

Yes it a bit rich of the British establishment to criticise the "tax haven" issue when the UK residency/domicile laws allow plenty of wealthy people to live in London and the rest of the UK with little or zero exposure to taxation.

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Not really. Using tax avoidance methods is one thing, and certainly legislation is being enacted an a regular basis to close off such openings for abuse, whereas a deliberate policy of creating a tax dodgers haven as the Isle of man is, represents immorality.

[Amadeus]

Not really.  Using tax avoidance methods is one thing, and certainly legislation is being enacted an a regular basis to close off such openings for abuse, whereas a deliberate policy of creating a tax dodgers haven as the Isle of man is, represents immorality.

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You're concerned about Immorality? In today's world?

 

And it's only certain taxes that are lower - the last time I looked, VAT was still pretty high and booze/ciggies/fuel aren't exactly cheap either, so we're not "tax-dodging" all over the place I think...

[When Skies Are Grey]

Yes it a bit rich of the British establishment to criticise the "tax haven" issue when the UK residency/domicile laws allow plenty of wealthy people to live in London and the rest of the UK with little or zero exposure to taxation.

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Not really. Using tax avoidance methods is one thing, and certainly legislation is being enacted an a regular basis to close off such openings for abuse, whereas a deliberate policy of creating a tax dodgers haven as the Isle of man is, represents immorality.

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So in other words its OK in the UK but not over here. The residency rules in the UK have been under review for many many years and yet never changed. Why? Because it would be an economic disaster as money would be repatriated out of the City. Phrases such as tax dodgers is jingoistic and you know it. The various legislation in the IOM and UK still amounts to the same thing - the avoidance tax that would otherwise be due if planning was not in place. Its the same end result not matter how you dress it.

[The Old Git]

The you've got Philip Green's tax arrangements with regards to BHS and his wife living in Monaco

[When Skies Are Grey]

and Al Fayed etc etc....the list goes on. However if he was putting his money through an offshore company then everyone would be decrying the evil tax havens.

 

There a wide variety of ways of increasing the pound in your pocket whilst negating your tax liability. All legitimate and all within the bounds of the legislation, if not the sentiment. How about reducing your NI bill by having your bonuses paid in to "charitable" trusts. How about using UK LLPs to purchase assets and offset your historical tax bill. All UK based structures run from the UK which have the same net affect as "offshore" arrangements.

 

Hypocrisy methinks!

[Speckled Frost]

The you've got Philip Green's tax arrangements with regards to BHS and his wife living in Monaco

 

I didn't realise working at Ballerkermeen could be so lucrative - so what are teachers whinging about?