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Off Topic Income Tax

Discussion in 'Liverpool' started by LuisDiazgamechanger, Jun 15, 2015.

  1. LuisDiazgamechanger

    LuisDiazgamechanger Dribbles

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    <peacedove>Accountants always say one is legal and the other is illegal.
    Tax Avoidance: You declare all your income; but minimise your tax.
    Tax Avoidance: You do not declare all your income because some of your
    money in offshore account.
    The tax man is getting more clever, under the new law it's going to be illegal
    to have offshore account without declaring it.
    I know there are some tax dodgers who are going to find a way round it.
     
    #1
    LuisDiazgamechanger, Jun 15, 2015
  2. Super G Ted'inho

    Super G Ted'inho Guest

    I've always maintained that I'd be happy to be paying £1,000 per week in taxes :)
     
    #2
    Super G Ted'inho, Jun 15, 2015
  3. Germlands Nozzer

    Germlands Nozzer Well-Known Member

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    Go for it then. No-one's stopping you from overpaying.
     
    #3
    Germlands Nozzer, Jun 15, 2015
  4. carlthejackal

    carlthejackal Well-Known Member

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    Both tax avoidance: so which one is the correct one?
     
    #4
    carlthejackal, Jun 15, 2015
  5. Super G Ted'inho

    Super G Ted'inho Guest

    who said anything about over paying? :bandit:
     
    #5
    Super G Ted'inho, Jun 15, 2015
  6. Germlands Nozzer

    Germlands Nozzer Well-Known Member

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    Go for it then. <ok>
     
    #6
    Germlands Nozzer, Jun 15, 2015
  7. LuisDiazgamechanger

    LuisDiazgamechanger Dribbles

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    One is more truthful than the other.. declared all the income but swallowed up by expenditure.:laugh:
     
    #7
    LuisDiazgamechanger, Jun 15, 2015
  8. Bindiana

    Bindiana Well-Known Member

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    Tax avoidance is legal, Tax Evasion is illegal. If your mega rich you can pay mega bucks to accountants to always find loopholes.
     
    #8
    Bindiana, Jun 15, 2015
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  9. Germlands Nozzer

    Germlands Nozzer Well-Known Member

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    The first. The second is tax evasion.
     
    #9
    Germlands Nozzer, Jun 15, 2015
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  10. carlthejackal

    carlthejackal Well-Known Member

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    2nd one is evasion not avoidance <whistle>

    My take on it is that well off people in general may use evasion. Millionaires and billionaires use avoidance never evasion. My firm of chartered accountants allow me to AVOID paying hundreds of millions in tax <whistle>
     
    #10
    carlthejackal, Jun 15, 2015

  11. LuisDiazgamechanger

    LuisDiazgamechanger Dribbles

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    Some banks do encourage 'tax havens'....soon UK is no longer be the main of the very
    rich. By that, they can legally avoid paying too much tax,
     
    #11
    LuisDiazgamechanger, Jun 15, 2015
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