You would trust your accountants to do what is best for you . If you had to look at every single thing they did , why have them ?
But paying into a scheme is not a minor thing is it? It would at least take their signature to authorise it. It's not like their accountant was just checking numbers. So they would know what was happening. Have you ever had a accountant? I have, you have to sign off on a load of stuff. It just takes time to check what you are signing.
If your accountant told you to invest in gun running, you might smell a rat. If he told you to put money into some kind of financial wrapper, you might assume it was legal.
Only if you are dumb. Sorry but millionaires and other well off people trying to cheat the tax system isn't right. People are all to ready to go crazy at benefit cheats. But the money lost through that is tiny compared to tax avoidance by the rich.
My dog sorts out my tax for me. He learnt it all from Rosie Redknapp. please log in to view this image Yum!
Agreed. I did my tax return last week and it pissed me off that one question is, "Do you have any tax avoidance schemes" or very similarly worded (tax avoidance schemes is used) and it is almost as if that's ok. It's not. They just haven't the balls to go after the big guys.
Really don't see why rich people avoid tax, they have loada of money anyway. It's not like the tax rates were what they were like in the '70s!
Having lots of money is a self perpetuating cycle of fear. Most people who have loads want/need loads more for fear of losing it all. There doesn't come a point where they're satisfied. If you have nothing then you have nothing to lose. I know one or two people who are extremely comfortably off. They live in the lap of luxury and need never work again. Are they content..? In all honesty, I would say they are no more content than I am and I have relatively nothing these days. I own a house completely and have little or no liquid assets to speak of. These people are millionaires, and they worry a great deal about where their next one is coming from. Not content.
I completely agree Fran . I wonder if these tax dodgers are actually breaking any LAWS though ? If they are not , then while I agree it is totally morally wrong , change the LAW . Sadly though , if they are breaking the law , I would imagine it's far easier for HMRC to chase the little people rather than the big guns of industry or sports etc .
http://www.slate.com/articles/busin...indiscretion_helped_create_a_billionaire.html Looks like he has paid tax (only because he got raided). But now is in tax exile and never stays in the UK more then 90 days a year so he doesn't have to pay tax. Nice guy...
Don't forget that there are many other millionnaires who do choose to stay in this country and pay tax...so not all tarred with the same brush. A lot of more ordinary working people stick to the 90 day rule to reduce their tax bill, but they would miss the money....Branson wouldn't.
Murray v Berdych on Eurosport Berdych broke Murray in 1st set, but Murray broke back immediately. Now 5-5.