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[PINKIE]

Its not a technicality about it. If i went abroad to earn money i dont want to be paying uk taxes.

However, i have decided to read a bit more into it and basically all she does is have loads of shares in companies so **** her non dom status and make her pay british taxes on all those dividends she earns considering she hasnt lifted a finger to earn them

Yeah nobody is saying that you should pay uk taxes if you do that work in another county.

But like you say. She’s just benefited from the wealth of her father to invest huge amounts into various share options, to which she receives massive dividend payments and pays no tax to the uk exchequer on.

despite living here and taking advantage of all the benefits the UK offers her and her family.

 

[Archers Road]

Its not a technicality about it. If i went abroad to earn money i dont want to be paying uk taxes.

However, i have decided to read a bit more into it and basically all she does is have loads of shares in companies so **** her non dom status and make her pay british taxes on all those dividends she earns considering she hasnt lifted a finger to earn them

The country is apparently brassic, we’re all stumping up, the rich need to be paying their taxes like the rest of us. Especially if they are married to the Chancellor of the Exchequer. Simple really

 

[BobbyD]

If you have shares in another country, don't the country they are held in tax the dividends?

Probably, think a lot of countries have relaxed tax laws.

Just seen you can get non dom status even though she lives here full time (different to a non uk tax resident). If shes here full time and enjoying british weather, rights culture, then maybe makes sense she contributes more to the country.

 

[PINKIE]

If you have shares in another country, don't the country they are held in tax the dividends?

I guess a lot of it will come down to where those businesses are registered. Most big profit making businesses have global operations, so it’s a fair bet that some of the dividends Rishi’s missus is benefiting from are making profits in the UK

But of course we all know that for ‘tax purposes’ lots of businesses that make their profits in the UK are registered in foreign tax havens so that the beneficiaries don’t have to pay any tax in the UK

 

[BobbyD]

The country is apparently brassic, we’re all stumping up, the rich need to be paying their taxes like the rest of us. Especially if they are married to the Chancellor of the Exchequer. Simple really

That's a false argument though. Everyones paying more (in increased taxes). Theres a case that the poor are disproportionately affected as their proportion of disposable income is being eaten up, especially with the increase in all costs.

They should definitely put some punitive taxes on things like multiple properties, windfall tax on energy but lets be realistic, its the tories they wont and even if they did they would give about 10% to the poor and the rest to their mates

 

[brb]

Probably, think a lot of countries have relaxed tax laws.

Just seen you can get non dom status even though she lives here full time (different to a non uk tax resident). If shes here full time and enjoying british weather, rights culture, then maybe makes sense she contributes more to the country.

Yeah I agree with your comments in principle...

My thoughts in simple terms is if someone has shares in ASDA, your shares would be held by Walmart, that then comes under the US tax system, not the UK one, even though you might have lived all your life in the UK and the company is trading in the UK.

 

[PINKIE]

Yeah I agree with your comments in principle...

My thoughts in simple terms is if someone has shares in ASDA, your shares would be held by Walmart, that then comes under the US tax system, not the UK one, even though you might have lived all your life in the UK.

They need to change the tax system to one where profits made in the UK are subject to UK tax. Instead of allowing companies to register their business in the Cayman Islands and pay little or no UK tax

But like Bobz says, this is the tories and more than a few of their MPs as well as their mates all benefit from this arrangement, so they have no interest in changing a system that they are milking

 

[Solid Air]

Turns out that Rishi Sunak’s missus doesn’t pay any Tax in the UK

what a ****in surprise

not necessarily since that depends as she will be taxed on any UK earnings however she has no tax liability for foreign earnings / income which i'm fairly sure nearly all her interests are .

 

[brb]

They need to change the tax system to one where profits made in the UK are subject to UK tax. Instead of allowing companies to register their business in the Cayman Islands and pay little or no UK tax

But like Bobz says, this is the tories and more than a few of their MPs as well as their mates all benefit from this arrangement, so they have no interest in changing a system that they are milking

That's got nothing to do with my point though.

Thousands of Brits have shares in other countries, that are taxed in the other country, not this one, despite those shareholders having lived their whole life in the UK.

I get your point about the Cayman Islands, but if we are arguing that people who live here, should be taxed HERE on ANY share dividends they receive, then the whole tax system in agreement with other countries, would require a complete overall....will never happen.

 

[BobbyD]

Yeah I agree with your comments in principle...

My thoughts in simple terms is if someone has shares in ASDA, your shares would be held by Walmart, that then comes under the US tax system, not the UK one, even though you might have lived all your life in the UK and the company is trading in the UK.

Being a lazy pleb and not really future proofing my income with stocks and shares, i do know there are two aspects. Im pretty sure asda (if ok uk stock market) shares will be paying uk tax on uk profits and dividends paid out to shareholders will incur uk tax for a uk taxpayer.

If a uk taxpayer were to own walmart shares though, walmart itself being a us company on the us stock exchange will pay u.s. tax on its earnings. The tax on share dividends that are paid out is where im unsure would be subject to uk or us tax (probably both for a uk citizen).

 

[Archers Road]

Need to start building a few guillotines imo, learn something from the French

 

[PINKIE]

That's got nothing to do with my point though.

Thousands of Brits have shares in other countries, that are taxed in the other country, not this one, despite those shareholders having lived their whole life in the UK.

I get your point about the Cayman Islands, but if we are arguing that people who live here, should be taxed HERE on ANY share dividends they receive, then the whole tax system in agreement with other countries, would require a complete overall....will never happen.

If you have shares in ASDA though, then I would imagine that those shares are based on their UK operations, rather than Walmart as a US entity.

So the dividends would be paid out based on their UK profits and that would count as part of your UK income, to which you would pay the relevant income tax on.

But as an overall principle, I think ALL profits made in the UK, no matter which country the company are registered in, should be subject to UK tax

 

[PINKIE]

Being a lazy pleb and not really future proofing my income with stocks and shares, i do know there are two aspects. Im pretty sure asda (if ok uk stock market) shares will be paying uk tax on uk profits and dividends paid out to shareholders will incur uk tax for a uk taxpayer.

If a uk taxpayer were to own walmart shares though, walmart itself being a us company on the us stock exchange will pay u.s. tax on its earnings. The tax on share dividends that are paid out is where im unsure would be subject to uk or us tax (probably both for a uk citizen).

Yeah wot he said ^^*

 

[PINKIE]

Also, isn’t it the case that if you get paid share dividends, even if it’s from profits made in another county, that if you’re a UK resident then it will count towards your overall income, and thus you would pay UK income tax on it ?

Unless you can wing it like Rishi’s missus and claim non dom status of course

 

[Sucky]

Yeah nobody is saying that you should pay uk taxes if you do that work in another county.

But like you say. She’s just benefited from the wealth of her father to invest huge amounts into various share options, to which she receives massive dividend payments and pays no tax to the uk exchequer on.

despite living here and taking advantage of all the benefits the UK offers her and her family.

And the rest of the cartel have his and her back.

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[PINKIE]

Also, isn’t it the case that if you get paid share dividends, even if it’s from profits made in another county, that if you’re a UK resident then it will count towards your overall income, and thus you would pay UK income tax on it ?

Unless you can wing it like Rishi’s missus and claim non dom status of course

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Unless you’re Rishi’s missus

 

[Sucky]

Say what now?

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[PINKIE]

Say what now?

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oooh she didn’t ?

 

[Sucky]

oooh she didn’t ?

I dunno mate, but i heard the same the other day too.

Wouldnt surprise me.

 

[PINKIE]

I dunno mate, but i heard the same the other day too.

Wouldnt surprise me.

Also turns out that because the company that her old man owns, which she a part of and benefits her to the tune of a wealth of £690m, she would be subject to the highest bracket of income tax in India at around 42%

But because she’s a UK resident, the UK - India tax treaty allows her to only pay 10% income tax in India

and **** all in the UK, because she claims non dom status

So she’s screwing the UK taxpayer as well as the Indian taxpayer.