On 15/02/2019 08:37, 2987fr wrote:


"The Natural Philosopher" wrote in message
...
On 14/02/2019 19:18, 2987fr wrote:


"Tim Streater" wrote in message
.. .
In article , 2987fr
wrote:

"Tim Streater" wrote in message
.. .
In article , 2987fr

wrote:

"Tim Streater" wrote in message
.. .
In article , 2987fr

wrote:

"Tim Streater" wrote in message
.. .

I'm still waiting to hear IN WHICH WAY Moggy is evading tax.

By appearing to receive the taxable income in the
Cayman Islands tax haven where no tax is paid on that.
Unlikely that he actually spends much time there.

But he must still declare that income on his UK tax return.

Not if it is income of a Cayman Islands based operation.

Yes. You have to declare your world-wide income. Once it appears in a
bank account that you control, it is deemed income at the exchange
rate
that prevails on that day. And the revenue wants to know about all
such
bank accounts.

But that doesnt mean that you have to pay UK income tax on that
income.

That the whole point of those tax havens.

So what law or treaty or rule or regulation do you invoke to avoid
paying tax on it?

Dont need anything like that.

It's income. You declare it. You pay tax on it.

Not when its the income of a commercial operation
that claims it is operating out of the Cayman Islands.

But your claim was that Rees Mogg was evading tax, not some company he
has shares in.

Thats how he evades tax. And it isnt just some
company he has shares in, its his company.


I see you snipped the relevant part.

Owning something is not the same as deriving income from it.

If you knew anything abour company law you would know that companies are
tretaed as individuals who never die.

And who wons SHARES in them is not who owns them, and who manages them
is not who owns them, either.


The fact is that Ress Moog or anyine else who is resident in the UK for
tax purposes cannot bring money onshore to live on or to spend without
paying tax on it. Neither can they let it accumulate in a personal bank
account or indeed anything else held personally without it becoming taxable.

The best - and perfectly legal way to pay less tax is to set up an
offshore TRUST for your children.


If as you seem to be suggesting, he has a private company that he owns
the shares wholly of (which I dont believe to be true, but nevertheless,
let's say he does) then he cant have that company being of any benefit
to him unless he pays tax on the benefit..

All it can do is rack up money in ITS bank accounts and leave it there.

The tax he will avoid, will be corporation tax. Not personal tax. And
every multinational company in Europe and the world does the same.


--
"In our post-modern world, climate science is not powerful because it is
true: it is true because it is powerful."

Lucas Bergkamp