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Disclosure of tax returns

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Disclosure of tax returns

Postby dls » Tue Apr 12, 2016 10:52 am

Is it not a considerable irony of the current twaddle that only MP/leader to have demonstrably broken the rules is . . . Jeremy Corbyn - in failing either to submit his return on time or to be able to provide a copy when asked.

Imagine what he would have said if Cameron had tried answering "Er, I can't find mine . ."
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Re: Disclosure of tax returns

Postby atticus » Tue Apr 12, 2016 12:01 pm

What does a tax return show? Surely that you have declared taxable income, dealings etc.

Isn't the real issue whether anything that should have been declared has not been declared?

We are also getting close to a situation where there is a witch hunt about behaviour that was lawful at the time, and probably still is, but which in the present febrile atmosphere is being deemed unacceptable. Is there going to be a rush by individuals with political ambitions to make a show of declaring offshore wealth and bringing it onshore? Will we be pillorying MPs of no great wealth who overlooked declaring say a tenner of bank interest?
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Re: Disclosure of tax returns

Postby dls » Tue Apr 12, 2016 12:58 pm

The whole row is a nonsense.

I am perfectly entitled to look at tax laws, to see what income is chargeable,and so properly to organise matters as to fall outside the rules.

To say that that does not raise enough taxes is only to say that the tax man has failed so to set the rules as to limit my opportunities. If I can move a great amount of money out of tax that is purely the tax man's / politician's fault.

If you assert the contrary you have to answer my question 'how should I voluntarily arrange my affairs to pay more tax than is asked of me, and how much more should I pay?'

The biggest change is the growth of super-national companies which have created new opportunities up with which the political world - for its own purposes - has not kept.
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Re: Disclosure of tax returns

Postby Hairyloon » Tue Apr 12, 2016 4:57 pm

dls wrote:The whole row is a nonsense.

Is it hell.
The row is not about whether or not Cameron acted lawfully and paid the proper tax on his earnings, it is about his ducking and diving when questioned about those earnings.

To say that that does not raise enough taxes is only to say that the tax man has failed so to set the rules as to limit my opportunities. If I can move a great amount of money out of tax that is purely the tax man's / politician's fault.

Which politician?
Surely not the same politician about whom you say the row about the tax affairs of is a nonsense?!
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Re: Disclosure of tax returns

Postby atticus » Tue Apr 12, 2016 5:22 pm

so the row is about having a row; a bit like a toddler having a tantrum. Even the PM is entitled to want to say mind your own business.
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Re: Disclosure of tax returns

Postby dls » Tue Apr 12, 2016 7:48 pm

Has bleating Corbyn come up with anything yet, or is he still twisting in the wind?
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Re: Disclosure of tax returns

Postby Hairyloon » Tue Apr 12, 2016 10:15 pm

atticus wrote:so the row is about having a row...

No, the row is about hypocrisy and deceit.
Even the PM is entitled to want to say mind your own business.

He is entitled to want to, but he is not entitled to expect anyone to listen.
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Re: Disclosure of tax returns

Postby atticus » Wed Apr 13, 2016 5:28 am

I am going to ask you to clarify what you say is -

(a) the hypocrisy

(b) the deceit.
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Re: Disclosure of tax returns

Postby kvothe » Wed Apr 13, 2016 7:52 am

It has been a requirement of completing a self-assessment tax return for some considerable time (certainly during the years relating to this furore) that an individual must disclose that advantage has been taken of a tax avoidance scheme. You must give a brief description, the scheme reference number (for they must be registered) and the tax year to which the 'advantage' relates to. In essence you are required to tell HMRC that your tax planning is potentially aggressive.

Perhaps this is why copies of actual tax returns are not being published.

It should also be noted that there is a General Anti Abuse Rule (GAAR) which came into effect in July 2013, which sets out HMRC's stance on schemes of an elaborate nature.

As a personal opinion, the amounts involved were modest. It has been handled really rather badly though.
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Re: Disclosure of tax returns

Postby dls » Wed Apr 13, 2016 8:15 am

Corbyn moans about failures to disclose. Cameron discloses. Corbyn fails to disclose - first to the tax man, then to us.

Who is the hypocrite?
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