Is tax avoidance ok?
False
General
Is tax avoidance ok?
Discuss non-medical topics
The comedian Jimmy Carr has been roundly hounded by the press and public this week after it was revealed he was part of a scheme that enabled him to avoid paying millions in tax. This was a legal sche
0
Cat:OffDutyForum:General
Cat:OffDutyForum:GeneralDiscussion:a4bf8856-04d0-4db2-b7a2-1ee19d3a209b
|
Is tax avoidance ok?
posted at 22/6/2012 1:51 PM BST
on bmj.com
|
|
*Moderator*
Posts: 1444
First: 7/4/2011 Last: 21/5/2013 |
The comedian Jimmy Carr has been roundly hounded by the press and public this week after it was revealed he was part of a scheme that enabled him to avoid paying millions in tax. This was a legal scheme, nevertheless it was generally seems a hypocritical by the majority of the nation. David Cameron claimed that Carr's arrangements were "morally wrong" but perhaps not surprisingly, the government have gone quiet on their own plans to disclose their own tax arrangements. But in a cabinet of 29 ministers, 23 of them are millionaires, I'm sure there is some clever accounting going on. And now, the Telegraph claims that more than 1,000 doctors and dentists are to be investigated. This seems to be the start of a new witch hunt where tax avoiders are being criticised but surely it is the system that allows them to do it. http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9348282/More-than-1000-doctors-and-dentists-targeted-by-HMRC-over-tax-evasion.html Not very medical I know, but doctors can be higher earners. What are peoples' opinions of tax evasion. Is it morally wrong? |
|
Re: Is tax evasion ok?
posted at 22/6/2012 2:57 PM BST
on bmj.com
|
Posts: 1266
First: 13/4/2010 Last: 21/5/2013 |
I think everyone should pay their taxes and it's up to the Government to ensure that happens and that avoidance is prevented. But, as you point out, many of the Cabinet are probably the beneficiaries of "clever accounting". The whole system stinks and it is wrong. We should decide democratically what the tax rates should be and these should then be applied uniformly to all earnings. No loop holes, no get out clauses, no off-shore accounts. Also everyone in public office should be made to make their personal accounts available to public scrutiny. I am more than happy for anyone to look at mine. I have no shares, I have no other source of income, I have no inheritances - in short, what I earn is all I get and I pay full tax on it. And if there is something I should ahve paid tax on and haven't and this is brought to my attention I am more than happy to pay the tax owed. |
|
|
Re: Is tax evasion ok?
posted at 22/6/2012 4:32 PM BST
on bmj.com
|
Posts: 959
First: 15/7/2011 Last: 21/5/2013 |
I think your question is wrong. Tax evasion is illegal. It means people deliberately and dishonestly do not pay tax upon their earning. The question should be Is tax avoidance wrong? There are many perfectly legal ways to avoid tax which are not illegal. Clever accountants can reduce Tax liability by perfectly honest means (immoral tax practices are not illegal). As skysteve states it would be a very important gesture for cabinet ministers to publish their finances and accounting practices. Will it happen - absolutely not. I suspect that most of us would be happy for their accountant to reduce their tax liability by perfectly honest means - is that unreasonable? |
|
|
Re: Is tax evasion ok?
posted at 22/6/2012 4:56 PM BST
on bmj.com
|
|
*Moderator*
Posts: 1444
First: 7/4/2011 Last: 21/5/2013 |
Thanks kirked - you're right I got it wrong! See how easy it is to confuse the two? Maybe evaders get confused like I did with the terminology ;-) I'm going to blame this on a tiring week! *Please note, have made the change in the discussion title. In Response to Re: Is tax evasion ok?: I think your question is wrong. Tax evasion is illegal. It means people deliberately and dishonestly do not pay tax upon their earning. The question should be Is tax avoidance wrong? There are many perfectly legal ways to avoid tax which are not illegal. Clever accountants can reduce Tax liability by perfectly honest means (immoral tax practices are not illegal). As skysteve states it would be a very important gesture for cabinet ministers to publish their finances and accounting practices. Will it happen - absolutely not. I suspect that most of us would be happy for their accountant to reduce their tax liability by perfectly honest means - is that unreasonable? Posted by kirked |
|
|
Re: Is tax avoidance ok?
posted at 22/6/2012 5:02 PM BST
on bmj.com
|
Posts: 3045
First: 27/3/2012 Last: 20/5/2013 |
No, in fact the evasion of tax payment is absolutely illegal in the best interests of all the nations, & it is the prime duty of everybody towards their nation to pay their taxes regularly! |
|
|
Re: Is tax avoidance ok?
posted at 22/6/2012 6:16 PM BST
on bmj.com
|
Posts: 2047
First: 12/3/2010 Last: 21/5/2013 |
Having had a go at this myself, no, I don't think that avoidance is immoral. BUt you have to have a certain income for anyone in the industry - for tax avoidance is an industry - to wnat to 'help' you. I just crept in under their curtain, as a 'loss leader', I think, hoping that I would sign up for more years as a result. My toes found the water very cold indeed and I won't try it again, because like any gamble it is expensive and has an uncertain success. I won't bore you with the working of the scheme that I was invited to enter, except to say that it was labyrinthine, much more so than Mr.Jimmy Carr's. And that the mills of the Inland Revenue (now HM Revenue & Customs) grind exceedingly slow, and by all accounts extremely stupidly. For instance it was some time ago that fly city whizkids realised that if they were paid 'in kind' with goods, not money, it was easy to avoid tax. So they were paid in gold, real gold bars. Eventually HMR&C said, "Well, actually old chaps, that's very clever, but as of now, you can't be paid in gold bars and not pay tax. OK?" OK! said the city whizzers and next year were paid in silver. When HMR&C cottoned on that they had been outflanked and banned silver, they used non-precious metals, and the process went right down to vegetable futures before payment in kind as a whole was made taxable. And the mills are literally slow - it's years now since I signed up to see if I could avoid some income tax and I haven't seen a penny of a rebate yet. John |
