On 15/02/2019 09:39, 2987fr wrote:


"The Natural Philosopher" wrote in message
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On 15/02/2019 08:37, 2987fr wrote:


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


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

wrote:

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

wrote:

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

wrote:

"Tim Streater" wrote in message
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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.

Nothing relevant about a shareholding in Apple.
Mogg owns the company in the Cayman Islands.

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

Mogg doesnt derive an in income from his operation
in the Cayman Islands, thats why its a tax dodge.

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

Irrelevant to whether Mogg's operation in the Cayman Islands is a tax
dodge.

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

Irrelevant to whether Mogg's operation in the Cayman Islands is a tax
dodge.

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.

But he is free to have a commercial operation in the Cayman
Islands that only pays Cayman Island tax, which is zero.

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

That isnt what Mogg has done.

If as you seem to be suggesting, he hasÂ* a private company that he
owns the shares wholly of (which I dont believe to be true,

Doesnt have to be wholly to dodge UK tax.

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..

But he is free to have that operation not pay income or company tax there.

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

And pay no tax on that.

The tax he will avoid, will be corporation tax. Not personal tax.

When the bulk of its money is corporate money, thats a tax dodge.

And every multinational company in Europe and the world does the same.

Not all of them use tax havens.


Rigfht so finally you accept that in fact Reese Mogg is not personally
profiting by the fact that he has an interrest in a company that is
registered in the Cayman Islands.

The company is, and for tax purposes it is a legally separate entity.



--
€œThose who can make you believe absurdities, can make you commit
atrocities.€�

€• Voltaire, Questions sur les Miracles Ã* M. Claparede, Professeur de
Théologie Ã* Genève, par un Proposant: Ou Extrait de Diverses Lettres de
M. de Voltaire