You are reading a single comment by @Greenbank and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
Sumo
@Greenbank
Indeed, pensions are a huge way to avoid paying tax, cycle to work schemes avoid you paying as much tax, etc, etc.
The traditional boundary between acceptable and unacceptable is what that person themself does, this can equally be applied to tax avoidance, e.g. I've got tax free savings/investments (ISA, premium bonds) and a pension that I pay into tax free, plus I once bought a bike on the Cycle2Work scheme; those are all fine. But anything more than that is taking the piss because I don't do it. QED.
Offshore stuff isn't much different, most of the time tax will be due when you try to repatriate the money/profits back to the UK, it's just that these people rarely have a need to bring any of it back in any time soon. Having a huge chunk of money offshore that can only be used for some things (investments such as shares or property) is way beyond the vast majority of the population.