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• #80927
Tax avoidance to stimulate investment to help the economy is to me more useful than non Dom tax avoidance on personal assets that sit in property/bank accounts. One, if audited and tuned properly, creates jobs. The other just puts more £ in the pockets of one person.
I don't know how you can say that with such certainty.
The pro case for non-dom is that it brings people to live and work (partly) in the UK that otherwise would not be incentivised to as they would drag all of their global assets into the UK tax net. I don't think it's a particularly strong argument, but then I also think there's a load of tax-advantaged investment that doesn't stimulate the real economy.
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• #80928
After the last set of non-dom reforms it was shown to have very little effect on non-doms entering or leaving the country, so that argument, as you say, is extremely weak.
(This twitter thread is worth a read: https://twitter.com/arunadvaniecon/status/1621087079999639559) -
• #80929
Can you appeal this?
You can lodge an appeal against it, yes.
But: two working parents, very young children, massive to-do list of urgent / important things.
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• #80930
(This twitter thread is worth a read: https://twitter.com/arunadvaniecon/status/1621087079999639559)
Unless I'm missing something, that thread doesn't answer the most interesting question, which is whether the non-dom policy really attracts anyone that wouldn't have come anyway.
What it does seem to say is that the "bait and switch" approach is highly successful, i.e. increasing tax rates once people have already made the decision to come to the UK doesn't cause people to unwind their arrangements.
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• #80931
To be avoidance, don't you need something more than that?
You mean like actively seeking out a specific investment(s) to reduce your tax liability, which has in turn been specifically designed to meet all the requirements to ensure you get your tax relief?
I don't think really EIS / VCT etc. is comparable to your example.
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• #80932
Yes - I don’t think that is tax avoidance. SEIS gives generous tax reliefs and you might try to get them, but it is supposed to give those reliefs to encourage that behaviour. More like choosing to get a grant for an EV charger (and ensuring you meet the conditions for that) than, say, using a weird acquisition structure to buy your house so you can pay less SDLT (which sounds like avoidance).
You say the examples aren’t comparable - why not?
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• #80933
Unless I'm missing something, that thread doesn't answer the most interesting question, which is whether we want more billionaire cunts?
Ftfy.
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• #80934
I can put up with a lot of cuntishness for a few hundred million of tax revenue.
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• #80935
As an ordinary immigrant who doesn't get non-dom status and always pays full tax and spends here money here, em, tough shit?
Non-dom is not tied to spending a certain amount in the UK is it?
As in, OK, you get this tax advantage but you must employ x people at y wage? Or buy goods such and such that generate real benefits to the local economy?
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• #80936
As an ordinary immigrant who doesn't get non-dom status and always pays full tax and spends here money here, em, tough shit?
If you don't have income from overseas assets then the non-dom reliefs would not be of any value to you anyway. Non-doms pay full UK tax on income generated in the UK.
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• #80937
Is it then to prevent double taxation?
If it's one of those cases of leaving assets where there's barely any tax then I feel less sympathetic once again.
Companies are however doing this all the time...
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• #80938
Is it then to prevent double taxation?
I think that would be an excessively generous interpretation. The overseas assets in question are most likely held in low or no tax jurisdictions. It's not really double tax if you are just topping up from 0-5% to the UK's already very low CGT rates!
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• #80939
it doesn't necessarily have to come from a place of gender violence, misogyny or other societal toxicity....it could have been something else or a combination.
True, but also undeniably true (because the statistics are there) that it's much more common for men suffering a personal crisis to take the rest of their family with them when they kill themselves.
I restrained myself from posting in this thread when the news broke, because there didn't seem much point in just saying "I hope this isn't what it usually is." But that's what it usually is.
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• #80940
Multi billion euro steel company on the Dutch coast is fined a massive € 110.000 for deliberate excessive polluting between 2018 and 2021.
News or rather epic wtf/fail? This is the fucking air we breath ¯_ (ツ)_/¯ -
• #80941
because the statistics are there
Where, out of interest?
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• #80943
https://www.cyclingweekly.com/news/parlee-cycles-in-trouble-files-for-bankruptcy
Parlee files for bankrupcy
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• #80944
I've only ever seen one in the carbon. A lovely thing.
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• #80945
LOLOL. I'm in Madrid and it's stuck in my head for the rest of the day after my weekly shop,
Hate it. Thinking of boycotting, but they have better/cheaper beers than the rest -
• #80946
Got you - I missed that this was specifically about people murdering their whole families.
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• #80947
She can fuck off and stay fucked off.
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• #80949
For what?
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• #80950
She's not really fucking off, she's going to the Lords
Tax avoidance to stimulate investment to help the economy is to me more useful than non Dom tax avoidance on personal assets that sit in property/bank accounts.
One, if audited and tuned properly, creates jobs. The other just puts more £ in the pockets of one person.