Legal Tax Avoidance

[Dan]

Just been reading about Jimmy Carr and the likes (apparently there are thousands of them) who has avoid tax, legally mind!, and is getting a bit of a grilling about it.

Here's a genuine guy on a lesser wage who's doing what he can too: Jimmy Carr tax avoidance: I'm not as good as him, but I'm getting better and better | Mail Online

I'm wondering if any of you guys look into ways of avoiding the tax our country puts on us from all angles. And we're one of the highest taxed countries in the world, if not THE highest when taking into account all taxes we pay throughout a year.

If I earned enough I'd certainly be doing anything I could to avoid tax and keep the money I've earned myself. Not sure I'll ever get to that stage mind lol

What's your view on this Jimmy Carr story?

Makes you wonder why these tax avoidance schemes are left in place by the rich that run the country because if they're that fussed about it they'd just not allow it.

They seem to be allowing famous to be knocked in the papers and by the public when they've been at it for years via all their companies. And the MP scandal, and the bankers scandal, and all other money making schemes they've come up with are all far more serious IMO.

Seems like its one rule for one, and one for another with them. They don't like it when the rich and famous do it, but they don't mind it when they do it themselves under the radar.

 

[Peter]

The tax avoidance schemes are all perfectly legal as long as you declare that you're part of one. Then again, every one of us has an accountant to make sure we pay as little tax as we have to.

 

[Ian]

The obvious way of tax avoidance for a self employed person is to do a portion of your work cash, problem being is it can't go into your bank and it ends up getting wasted on pointless things. I often get asked if I can 'knock a bit off for cash' but all that really does is save the customer money, as I would only reduce the labour by 20% (the tax, which I'd have to pay anyway). So for me all that happens in a cash situation is the customer gets to keep the money the tax man should have! I try not to do cash jobs that are over a couple of hundred quid coz I just waste it, on beer and other stuff I don't really need.

 

[Peter]

Plenty of ways to avoid paying tax even if you're declaring it all. Your day to day expenses including the room you use for your office, Internet, phone line, new van every year etc. You need and use the things anyway but just a case of thinking "Would I rather pay £300 tax or use the money on a cordless drill?

 

[macten]

I don't think J C has anything to apologise for. MPs have known about these loop holes for years and done nothing to close them. Accountants are more to blame imo.

 

[Sean Kelly]

Will have to watch 8 out of 10 cats this week to see what Sean Lock has to say about this subject!

Jimmy is a comedian not a tax expert. He has delegated his money matters to his accountant. His accountant has found a legal way for his clients to pay less tax.

Business people, celebrities, politicians have been doing this for years. David Cameron’s family fortune was built using the same methods of tax avoidance (i.e. paying less tax).

I don’t have an accountant, but if I did I would expect him/her to use every trick in the book so that I would pay less tax (legally of course).

 

[Rizzle from the Portizzle]

tax avoidance schemes are for the rich or MP thats why there legal:incazzato:

 

[John Benton]

It is understood that Harry Redknapp is now Jimmy Carr's accountant!!