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-TUX- Alphabettispaghetti 12 Apr 16 1.47pm | |
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Originally posted by Hoof Hearted
Don't give up your day job if that is your conclusion... you won't make it to CID. What the discussions have concluded is that Cameron has done nothing wrong by investing in an overseas unit trust because the current laws allow any UK domiciled citizen to do so as long as you declare any dividend for income tax and any profit on sale for CGT purposes.... which he did and has been documented on his tax return. What the discussions have also concluded is that a handful of you somehow feel that what he's done is immoral but apart from shout obscenities at him and other wealthy folk have no real answer to making things better. Uninteresting. But correct.
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Stuk Top half 12 Apr 16 2.09pm | |
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Originally posted by npn
It's 7, I think, and it still makes bugger all sense to me! Why does it make no sense that you cant give away already taxed income? IHT is the one that makes bugger all sense to me. You've paid tax on the money you earned, then paid taxes on the stuff that you've bought. Why should someone else then have to pay the tax again before they can inherit it?
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jamiemartin721 Reading 12 Apr 16 4.49pm | |
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Originally posted by Stuk
Why does it make no sense that you cant give away already taxed income? IHT is the one that makes bugger all sense to me. You've paid tax on the money you earned, then paid taxes on the stuff that you've bought. Why should someone else then have to pay the tax again before they can inherit it? Quite agree, if you paid tax on it of course. Which might not be the case, given some of the dealings that have gone on. Realistically we need to more towards a tax system that is fair and reasonably transparent and not based on 'arcane knowledge and occulted practices' - Ideally one which more or less means everyone contributes a fair percentage towards the operation of the UK. Its f**king absurd how many different taxes and duties there actually are.
"One Nation Under God, has turned into One Nation Under the Influence of One Drug" |
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EverybodyDannsNow SE19 12 Apr 16 4.58pm | |
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Originally posted by jamiemartin721
Wrong and criminal, aren't necessarily the same thing mind. Arguably there is an ethical question regarding a PM who has talked seriously about reducing tax avoidance taking advantage of tax avoidance schemes - As it talks to their integrity, especially when they try to spin their way out of it. Then again, lets look a UK corporations and multinationals instead to begin with, because its much much easier for them to do this, and avoid paying massive amounts of taxation. Essentially my thoughts - this idea that Cameron hasn't done anything wrong because he hasn't done anything illegal is strange.
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Stuk Top half 12 Apr 16 5.12pm | |
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Originally posted by jamiemartin721
Quite agree, if you paid tax on it of course. Which might not be the case, given some of the dealings that have gone on. Realistically we need to more towards a tax system that is fair and reasonably transparent and not based on 'arcane knowledge and occulted practices' - Ideally one which more or less means everyone contributes a fair percentage towards the operation of the UK. Its f**king absurd how many different taxes and duties there actually are. Even if you haven't paid taxes on it, so long as it was declared and legal or within allowances. Once it's got to the inheritance stage of things it should be too late to try and claim any taxes due, as the person in question is dead.
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Stuk Top half 12 Apr 16 5.14pm | |
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Originally posted by EverybodyDannsNow
Essentially my thoughts - this idea that Cameron hasn't done anything wrong because he hasn't done anything illegal is strange. He hasn't done anything wrong, because he hasn't done anything wrong. Tax is not a moral issue and it never will be.
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jamiemartin721 Reading 12 Apr 16 5.16pm | |
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Originally posted by Stuk
Even if you haven't paid taxes on it, so long as it was declared and legal or within allowances. Once it's got to the inheritance stage of things it should be too late to try and claim any taxes due, as the person in question is dead. Outstanding debts can be collected from an estate - Once its paid out, definitely. Even in death, you can't escape paying bills and the taxman.
"One Nation Under God, has turned into One Nation Under the Influence of One Drug" |
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jamiemartin721 Reading 12 Apr 16 5.19pm | |
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Originally posted by Stuk
He hasn't done anything wrong, because he hasn't done anything wrong. Tax is not a moral issue and it never will be.
It is an ethical one though. Especially if you've made a pledge to 'get tough on tax avoidance', and then have been found to have engaged in it (which I'm not sure is the case given he paid all outstanding taxes).
"One Nation Under God, has turned into One Nation Under the Influence of One Drug" |
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Y Ddraig Goch In The Crowd 12 Apr 16 5.20pm | |
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Originally posted by EverybodyDannsNow
Essentially my thoughts - this idea that Cameron hasn't done anything wrong because he hasn't done anything illegal is strange. Why? What I find strange is a long line of politicians queuing up to give a rent-a-quote condemning Cameron for not for being a crook but because what he did was immoral. Who are they to decide what is or isn't immoral. As for the public outcry and the Tories being out of touch, most people actually seem quite apathetic to the whole thing. Even some of my lefty friends think it is the wrong fight to pick.
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Stuk Top half 12 Apr 16 5.20pm | |
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Originally posted by jamiemartin721
Outstanding debts can be collected from an estate - Once its paid out, definitely. Even in death, you can't escape paying bills and the taxman. I'm not saying debt can't or shouldn't. I'm saying that HMRC should be too late to say we'll have another look at that now it's in a big lump sum and we might be able to hack off a piece more before the IHT.
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nickgusset Shizzlehurst 12 Apr 16 5.22pm | |
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Originally posted by jamiemartin721
It is an ethical one though. Especially if you've made a pledge to 'get tough on tax avoidance', and then have been found to have engaged in it (which I'm not sure is the case given he paid all outstanding taxes). Many Tory donors are embroiled in the whole Panama papers scandal. Is Cameron happy about the questionable sources of these donations?
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Stuk Top half 12 Apr 16 5.22pm | |
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Originally posted by jamiemartin721
It is an ethical one though. Especially if you've made a pledge to 'get tough on tax avoidance', and then have been found to have engaged in it (which I'm not sure is the case given he paid all outstanding taxes). It's not, at all. Using your allowances is not tax avoidance. No different to not paying any income tax on your first £11,500 of earnings for anyone PAYE.
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