2nd home tax loophole

[LittleRon]

https://www.google.com/amp/s/news.sky.c ... s-12254630

Clampdown on tax loophole for thousands of second homes
registered as holiday lets New rules aim to stop those who
make "little or no realistic effort" to rent out their properties
from enjoying lower tax bills.

[LittleRon]

Anyone got a 2nd Home/Holidayhome in the England ?

[Long slender neck]

What if you have 38 homes? Asking thor a friend.

[LittleRon]

38 holiday lets ?
Wow , they must be retired & have lots of time on their hands

[Omygawd]

Brisbane Road is my second home. Nothing else could compare.

[Max B Gold]

https://www.google.com/amp/s/news.sky.c ... s-12254630

Clampdown on tax loophole for thousands of second homes
registered as holiday lets New rules aim to stop those who
make "little or no realistic effort" to rent out their properties
from enjoying lower tax bills.

Its hardly a "loophole" if people are claiming to be doing something they're not.

Its straight forward fraud and some high profile prosecutions and jailings need to be carried out to encourage the other fraudsters to cease their selfish behaviour.

[George M]

Better off venting your anger at the millions who pay no tax at all. It’s easier to clamp down on people who do pay tax and those that don’t seem to go unpunished

[Max B Gold]

Better off venting your anger at the millions who pay no tax at all. It’s easier to clamp down on people who do pay tax and those that don’t seem to go unpunished

Grass them in then.

[Fisch]

Better off venting your anger at the millions who pay no tax at all. It’s easier to clamp down on people who do pay tax and those that don’t seem to go unpunished

Grass them in then.

Mark the day today - I agreed with Max B Gold.

[Max B Gold]

Better off venting your anger at the millions who pay no tax at all. It’s easier to clamp down on people who do pay tax and those that don’t seem to go unpunished

Grass them in then.

Mark the day today - I agreed with Max B Gold.

Award yourself a chocolate watch. It's hardly like I'm controversial.

[George M]

Better off venting your anger at the millions who pay no tax at all. It’s easier to clamp down on people who do pay tax and those that don’t seem to go unpunished

Grass them in then.

Good idea. Let’s start with cabbies

[Max B Gold]

Better off venting your anger at the millions who pay no tax at all. It’s easier to clamp down on people who do pay tax and those that don’t seem to go unpunished

Grass them in then.

Good idea. Let’s start with cabbies

You need to think bigger. It's not the cab driver or the tradesman from two doors down who does the odd cash job who is ripping off the compliant taxpayer.

It's the rich, the banks, the multinationals, the insurance company, business owners. That's where the real focus should be for HMRC.

[George M]

I agree Max. But that’s the issue isn’t it. It’s a crime at all levels.
Unfortunately it is easier for HMRC to investigate the lower end of the crime than the top.
Don’t know the answer I am afraid

[Dunners]

Best way to take them all out is to line the accountants up against the wall.

[Max B Gold]

Best way to take them all out is to line the accountants up against the wall.

Lawyers too. They are at it big time on the "avoidance" front.

[Thor]

Grass them in then.

Good idea. Let’s start with cabbies

You need to think bigger. It's not the cab driver or the tradesman from two doors down who does the odd cash job who is ripping off the compliant taxpayer.

It's the rich, the banks, the multinationals, the insurance company, business owners. That's where the real focus should be for HMRC.

Trouble is Max Vodaphone for example had literally lines of tax accountants arguing and fighting back on every singe point raised by HMRC and no matter what direction they went the Vodaphone people were ready and waiting and in the end the taxman said just give us x amount and we will forget the rest as the taxman doesn’t have the time or resource to fight such teams of tax accountants.

[Max B Gold]

Good idea. Let’s start with cabbies

You need to think bigger. It's not the cab driver or the tradesman from two doors down who does the odd cash job who is ripping off the compliant taxpayer.

It's the rich, the banks, the multinationals, the insurance company, business owners. That's where the real focus should be for HMRC.

Trouble is Max Vodaphone for example had literally lines of tax accountants arguing and fighting back on every singe point raised by HMRC and no matter what direction they went the Vodaphone people were ready and waiting and in the end the taxman said just give us x amount and we will forget the rest as the taxman doesn’t have the time or resource to fight such teams of tax accountants.

The taxman could always employ more people to work in areas where large amounts of tax are contested. It doesn't have to be an unequal fight.

The fact that rubbish deals like Vodafone are agreed is down to the lack of political will on the part of governments to provide the resources to match these avoidance devils and their ant-social ways. Slap a tax ASBO on them to help them modify their behaviour.

[Thor]

I don’t disagree, but the issue is wider than just the UK it’s a worldwide issue and countries seem to be against saying enough’s enough.

For example the last company I worked at had a structure like this.

UK company in to a European company based in the uk, they then fed upwards in to a Benelux company. From there that company fed up to a Macau company which then fed into a BVI company which then reported in to a company in Delaware. Nothing illegal in what was done, but was tax mitigated all over the shop. Multiply that by 50 companies and it’s massive scale stuff.

Until governments say you can’t do that then it will continue and it personally winds me up that Amazon sell billions here and pays tax of peanuts. That’s not right ethically or morally.

Finally I see that people who paid themselves small salaries and dividends and took loans are now being pursued by the government to pay back the tax on the loans. When those people set up their companies they were advised it was a legal practice, which it was now they are being hounded for the cash. Some have bankrupted themselves and others have actually committed suicide as they could not face the financial ruin that awaited them. Easy to pursue the little man as he doesn’t have the might of Vodaphone or the money to take on HMRC.

The system is broke, but don’t expect governments to tame big business as its big business running governments (almost) now.

[MungOgogo]

I don’t disagree, but the issue is wider than just the UK it’s a worldwide issue and countries seem to be against saying enough’s enough.

For example the last company I worked at had a structure like this.

UK company in to a European company based in the uk, they then fed upwards in to a Benelux company. From there that company fed up to a Macau company which then fed into a BVI company which then reported in to a company in Delaware. Nothing illegal in what was done, but was tax mitigated all over the shop. Multiply that by 50 companies and it’s massive scale stuff.

Until governments say you can’t do that then it will continue and it personally winds me up that Amazon sell billions here and pays tax of peanuts. That’s not right ethically or morally.

Finally I see that people who paid themselves small salaries and dividends and took loans are now being pursued by the government to pay back the tax on the loans. When those people set up their companies they were advised it was a legal practice, which it was now they are being hounded for the cash. Some have bankrupted themselves and others have actually committed suicide as they could not face the financial ruin that awaited them. Easy to pursue the little man as he doesn’t have the might of Vodaphone or the money to take on HMRC.

The system is broke, but don’t expect governments to tame big business as its big business running governments (almost) now.

And what is your Wife's Opinion ?

[Thor]

She said you're an idiot and a complete tool.

[Ronnie Hotdogs]

I don’t disagree, but the issue is wider than just the UK it’s a worldwide issue and countries seem to be against saying enough’s enough.

For example the last company I worked at had a structure like this.

UK company in to a European company based in the uk, they then fed upwards in to a Benelux company. From there that company fed up to a Macau company which then fed into a BVI company which then reported in to a company in Delaware. Nothing illegal in what was done, but was tax mitigated all over the shop. Multiply that by 50 companies and it’s massive scale stuff.

Until governments say you can’t do that then it will continue and it personally winds me up that Amazon sell billions here and pays tax of peanuts. That’s not right ethically or morally.

Finally I see that people who paid themselves small salaries and dividends and took loans are now being pursued by the government to pay back the tax on the loans. When those people set up their companies they were advised it was a legal practice, which it was now they are being hounded for the cash. Some have bankrupted themselves and others have actually committed suicide as they could not face the financial ruin that awaited them. Easy to pursue the little man as he doesn’t have the might of Vodaphone or the money to take on HMRC.

The system is broke, but don’t expect governments to tame big business as its big business running governments (almost) now.

That’s turbo capitalism, thory boy.

[MungOgogo]

She said you're an idiot and a complete tool.

Ive never been to Dulwich school & ive never thought it would be a good place to send my kid .
Full of Scandal .She must know I'm not an idiot or tool from that alone .

[Ronnie Hotdogs]

Nailed on they would have sent the imaginary kid there but it failed the entrance exam.

[Thor]

Nailed on they would have sent the imaginary kid there but it failed the entrance exam.

Foolish man. He passed the entrance exams.

[MungOgogo]

Someone is very Aggressive today .
Was there an attempted theft of a Range River one wonders .