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Paradise Papers

Discussion in 'The Lounge' started by MickLL, Nov 7, 2017.

  1. peterba

    peterba Well-Known Member

    Genuine point (not trying to be argumentative): surely "decent people" would still go into public service, because they aren't seeking these spurious opportunities, whereas the self-serving types would be put off by the lack of such opportunities.
     
    Andrew Flannigan likes this.
  2. RovingMike

    RovingMike Crucifixion's a doddle...

    That's really only the start of how a much broader mass of us avoid tax, almost certainly totalling many times what the pilloried ones (who I have nothing but contempt for) deprive the exchequer of.

    Of course the lower down the scale you go, the more it is held to be "legitimate", double standards applying in spades. How often do you get building or other jobs done and a cheque will be fine, but when it comes to paying it is "Well can't you just make it cash?". The trickery use to stay under £11,500 and £45,000 bands is also beyond belief. Hiding wads of inheritance etc to avoid losing benefits,,,,,
     
  3. Andrew Flannigan

    Andrew Flannigan Well-Known Member

    Perhaps we should build on the principles of the Roman "Cursus Honorum". The idea was that you travelled up the tree if you were good enough but you weren't allowed to get too comfortable. To be elected to each post you had to be over a specified age and have held all the previous posts. There were limits of 1 - 2 years on how long you could stay in each role. A gap was required before you could return to a role (sometimes as long as 10 years). It seems to have worked well up to the Imperial period and with 60 million citizens to choose from we have no shortage of candidates.
     
  4. Dorset_Mike

    Dorset_Mike Grumpy Old Fart

    Never having been in an income situation where ISAs were an option, I ask what happens to the money you invest in ISAs, is it held/invested within the UK or is it stowed away offshore? I would guess within UK therefore I assume invested or used somehow whereas the fat cats offshore money is lost to the UK, or is that a too simple way of looking at it?
     
  5. MickLL

    MickLL Well-Known Member

    You are mixing two issues. the 'cash' issue is tax evasion and that's illegal. the Paradise Papers deal with tax avoidance and that's legal.

    MickLL
     
  6. AGW

    AGW Well-Known Member

    If there is nothing wrong with the behaviour, why do they all seem embarrassed and ashamed to have been found out? This applies not only to the individuals...but the likes of the Isle of Man government do not seem to be proud of their role and attitude.
    I just watched an upstanding citizen lie about the function of his shell company... in the face of the documentation advising him on why he should set it up to avoid tax. Wealthy but morally bankrupt.


    Graeme
     
    miked, steveandthedogs and RogerMac like this.
  7. Andrew Flannigan

    Andrew Flannigan Well-Known Member

    miked and RogerMac like this.
  8. SqueamishOssifrage

    SqueamishOssifrage Well-Known Member

    As an aside, I doubt there is very much HMG can do about it. An international solution is required, and I fear that is exceedingly unlikely.
     
  9. MickLL

    MickLL Well-Known Member

    That's the future not now and certainly not the past when these 'schemes' were set up. The article also mentions penalties only if the scheme "falls foul of the rules". In other words is proved to be illegal.

    MickLL
     
  10. daft_biker

    daft_biker Action Man!

    Indeed. Is revealing personal financial data for living individuals legal? Why hasn't the data protection act protected them?
     
  11. spinno

    spinno Well-Known Member

    That was my first thought... stolen data (admittedly from another country) and then the information being used and presented in the way it has...as much as some of the behaviour of the "investors" might rankle is not the behaviour of the hackers and journalists criminal.
    Amber Rudd must be rubbing her hands with glee...
     
  12. Andrew Flannigan

    Andrew Flannigan Well-Known Member


    Explain exactly how. Mind you the image of ruddy Amber cackling and rubbing her hands seems accurate if not particularly pleasant. :cool:
     
  13. spinno

    spinno Well-Known Member

    Stealing and dealing in stolen/"leaked" data?
     
  14. Andrew Flannigan

    Andrew Flannigan Well-Known Member

    It may be illegal in the jurisdiction where it occurred. What evidence do you have that it occurred in this jurisdiction?
     
  15. spinno

    spinno Well-Known Member

    none but like you say it may be illegal wherever the deed was done- as it was in a Crown Dependency then who knows, they seem to have different attitudes...
     
  16. Andrew Flannigan

    Andrew Flannigan Well-Known Member

    Indeed. My view is that it's always a public good to discomfit those with enough money that they want to hide it from the tax authorities.
     
  17. AndyTake2

    AndyTake2 Well-Known Member

    Someone can correct this, but I don't think it is illegal to have the data, it is illegal to release it.
    That's why the data was 'leaked', otherwise it would need to be proved that the data is 'true' -i.e. 'that is my information, you cannot release it':p...errr....No, it isn't really me, I don know nuffin about any offshore stuff.....err, I get seasick if I put me toes in the bath...:confused:
     
    spinno likes this.
  18. spinno

    spinno Well-Known Member

  19. Fishboy

    Fishboy Well-Known Member

    On the bright side it's been a bit of a revelation to me to find out that 'Where the Streets have No Name' is actually about trying to find your way out of a Lithuanian shopping centre!

    Cheers, Jeff
     
    spinno likes this.
  20. spinno

    spinno Well-Known Member

    surely it could be any shopping centre or is it just me who just nods off in M&S
     

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