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tackling fraud

Guest eFestivals

By Guest eFestivals
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oafc0000 Newbie

oafc0000

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Me being one of them. Most of us tax payers in this country could save money if we knew and understood all the loopholes available. The thing is because our tax system is so complicated, the only real way to do this is to use tax consultants, who cost a fortune. Only the rich can afford to use them. If we all used these loopholes you can gaurantee that they'd all be closed within days. But whilst they're only available to the rich, who just happen to make enormous donations to the political parties, nothing is done.

Remember that these "loopholes" may be legal, but that doesn't mean they are right. These people that could easily afford to pay the extra taxes, are just happy to see their fortunes grow whilst the poor are left to suffer.

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Steve P Newbie

Steve P

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Most accountants I have used haven't charged more than a couple of hundred to deal with my tax returns... and about a £1000 a year to deal with my company books and operate a pay roll...

But besides that you are spot on rolleyes.gif

What you call a tax "loop hole" is usually there for a reason...

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oafc0000 Newbie

oafc0000

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There's a world of difference between using an accountant to ensure that you're book keeping is correct and using a tax consultant to find ways around paying the taxes that the rest of us have to.

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Steve P Newbie

Steve P

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Not at all... My accountant gives me advice all the time... That is what I pay him to do... I don't want to pay any more or less than what is expected of me...

Its a fact that most of the "loopholes" normal tax payers talk about are there for very cast iron reasons but the general public don't get it(and some media and government officials - or they just want to wind things up)... There are of course some very obvious and less obvious REAL loopholes... These, from what I know, are far and few between, but they are heavily exploited. But the government are closing them... Look up BN66...

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Steve P Newbie

Steve P

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You was talking about how accountant advice was out of your reach a moment ago... YOU don't have to pay the same as a massive corporation to get the right advice...

Its very unlikely you could save a great deal anyway... Unless you went self employed or something...

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oafc0000 Newbie

oafc0000

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No I wasn't, I was talking about the advice of a tax consultant, have been from the start (going on from Sifi's post). Tax consulants are basically organisations set up to find these loopholes. The fact that companies are willing to pay millions to them, shows how much money they can save. All big firms still have their own accountants, so there must be a reason why tax consultants are used.

Again, the fact that they can get around legistlations and get out of paying millions in tax that they "should" have to pay, doesn't make it right for them to do so. If we're all "in this together", and we all have to accept that we're going to face higher taxes, then why should we have to watch the incredibly wealthy get away with not paying their dues?

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oafc0000 Newbie

oafc0000

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:rolleyes: Fine. If you think you'd get the same advice from your accountants/tax consultants as you would from likes of Deloitte and Touche then i'll have some of what you're on. I'm talking about top level advice here. My uncle is extremely high up in Deloitte, and openly admits that it's a morally corrupt business. I don't understand why you find it hard to accept this. If a company is taken to court do they just take the lawyer that would be assigned to them for free, after all he's got his lawyer "name badge and everything".

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oafc0000 Newbie

oafc0000

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can I just remind you what you said...

Me being one of them. Most of us tax payers in this country could save money if we knew and understood all the loopholes available. The thing is because our tax system is so complicated, the only real way to do this is to use tax consultants, who cost a fortune. Only the rich can afford to use them.

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Steve P Newbie

Steve P

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What I am saying to you silly billy is I get the advice that is right for me and my business... Corporations get the advice that is right for them... and you can get any advice that is right for you... And you pay the appropriate amounts for each....

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oafc0000 Newbie

oafc0000

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Which allows them to find loopholes that mean that they can get out of paying billions of pounds in tax that the legistlations were meant to make them pay. If you think this is acceptable then fine. I don't, I personally find it sickening.

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