Paradise Papers Leak

SWP's back said:
You on about?

I’ve got clients with ISA portfolios worth well over £500k that made 18% in the last year alone.

You really think that’s a 20p tax saving?

Fucking love these threads where 95% of respondents haven’t got a fucking clue about the subject matter.
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95% of people could only dream of having made 18% on their £500k isa portfolios mate.

Back in the real world they go to work and are taxed by a system that does not allow them to try and squirrel a bit of their hard earned away or employ the likes of yourself to help them do so because the money is taken whether they like it or not.

Im not judging you here btw or your profession, fair play to you you work hard and you make your money but to try and pretend there isnt a moral issue at least here isnt on imo.
 
The Light Was Yellow Sir said:
Wrong.
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There are a few on this thread who have been quick to jump on this statement.
Here is why I'm happy to stand by it.

The poorest do not earn money they are supported by the state. The vat they pay on goods is factored into the amount of benefits they receive. If vat was higher they would receive more benefits. They are not taxed they are subsidised. I make no claim that they shouldn't be, just that to claim someone who doesn't earn any money is taxed cannot be said to be true.
 
Gelsons Dad said:
There is nothing to defend.
People investing in off shore funds is not illegal. Every fund managed in London will have some offshore assets.
It's the moral outrage by people who have no idea that I don't like. Now when they give evidence of illegal financial instruments being used then it will be a story but at the moment it's just envy.
If you want you could make the same argument about ISAs. Why should people who have enough money to invest in an ISA get away with not paying tax? What about the poor who have no savings, it's not fair that they have to pay tax!! What about people who's pensions invest in offshore instruments? Why should they get away with not paying tax?

It's all nonsense. If you changed the law to prevent these investments the UK would be very much poorer overnight and anyone with enough money to do so would fuck off to everywhere else in the world where the moral outrage police don't rule the roost.
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Nobody is saying its illegal. People are saying that the whole system need adjusted as its not a fair way of doing things.
 
Gelsons Dad said:
There are a few on this thread who have been quick to jump on this statement.
Here is why I'm happy to stand by it.

The poorest do not earn money they are supported by the state. The vat they pay on goods is factored into the amount of benefits they receive. If vat was higher they would receive more benefits. They are not taxed they are subsidised. I make no claim that they shouldn't be, just that to claim someone who doesn't earn any money is taxed cannot be said to be true.
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You do know that there's a lot of poor people who actually work and earn less than the dole pays? Just a thought.
 
Gelsons Dad said:
There is nothing to defend.
People investing in off shore funds is not illegal. Every fund managed in London will have some offshore assets.
It's the moral outrage by people who have no idea that I don't like. Now when they give evidence of illegal financial instruments being used then it will be a story but at the moment it's just envy.
If you want you could make the same argument about ISAs. Why should people who have enough money to invest in an ISA get away with not paying tax? What about the poor who have no savings, it's not fair that they have to pay tax!! What about people who's pensions invest in offshore instruments? Why should they get away with not paying tax?

It's all nonsense. If you changed the law to prevent these investments the UK would be very much poorer overnight and anyone with enough money to do so would fuck off to everywhere else in the world where the moral outrage police don't rule the roost.
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You are Jim Davidson and I claim my (tax-free) ten pounds.
 
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