Earlier quoted context omitted.
Unless you’re an American living abroad, in which case it’s tax evasion.
For that, there's FEIE, and moving your residence to Puerto Rico
please expand
The Isle of Man is not in the UK
131–140 of 211 posts
Re: The Isle of Man is not in the UK
#132Earlier quoted context omitted.
Had Cameron taken this approach, things could have worked out OK for the UK. Every one of those involved renegotiation and change of treaties before a re-vote. The timeline could have been: Cameron attempts to renegotiate with EU, achieves little. Calls a referendum, leave achieves a very narrow margin. Cameron doesn't resign, but attempts to renegotiate with the EU, achieves some small but significant improvements.…
Good point - I agree, and I'm really disappointed it didn't play out like that. Instead the UK has had political stalemate for 3.5 years and even now it doesn't look like we're closer to 'a deal'.
No, we're stuck with a "government" that's lost every vote they called, and a no-deal crash out looks the only option. Realistically that was always the only option without moving some of those infamous "red lines", or accepting Theresa May's deal. I don't see room for anything else.
So the no-deal that was explicitly ruled out during the referendum campaign. The Swiss invalidate referendums when the electorate haven't been given correct information.
What a mess.
Re: The Isle of Man is not in the UK
#133Earlier quoted context omitted.
That's why the super-wealthy fund propaganda campaigns aimed at those folks.
Ah yes the "they didn't know what they were really voting for" argument. Insulting and pathetic.
This Brexiteer response has become VERY old.
Do you really think all the people that voted for Brexit (and those that support Remain) have the capacity to understand all the intricacies of leaving the EU? The entire civil service working on it for the last 3 years barley have a clue. How is someone with their own life and work to manage supposed to find the time?
Brexit will fuck the poor but they are supporting it. I think that tells you all you need to know.
Re: The Isle of Man is not in the UK
#134Earlier quoted context omitted.
At a guess this might not be far from the truth. For sub a few hundred pound almost no one would bother fighting it. Above a few hundred thousand almost everyone will. At best they'd have to expend a lot of time and money to get a fraction of the original amount back.
My wealthy great aunt paid an accountant to minimise her tax bill. She said it worked out around even, the costs of the accountant were about what she saved on the taxes, but she preferred paying the accountant than the government.
Of course, 20% of what she paid the accountant goes straight to the government in the form of VAT.
Then, 20% of what's left goes again when the accountant spends any of it (ok, some thing are zero-rated [books] but on the other hand others have extra duties on top [fuel])...
Then there's the accountant's own tax bill...
Re: The Isle of Man is not in the UK
#135Earlier quoted context omitted.
That's why the super-wealthy fund propaganda campaigns aimed at those folks.
Ah yes the "they didn't know what they were really voting for" argument. Insulting and pathetic.
This is like when people say that all racists voted to leave, and someone pipes up with "I voted to leave and I'm not racist, that's really insulting". You are confusing the direction of if and then.
The referendum was won because people were swung to the leave side by the case made by the leave campaigners. A case full of immediately demonstrable lies. If at least 650000 of those people were specifically swung that way by those lies or anything from 30 years of Boris Johnson's EU fibs, then the "they didn't know what they were really voting for" argument is sound.
This isn't about a metropolitan liberal elite thinking abstractly and paternalistically about swathes of poor people in The North about whom I have only heard through Ken Loach films.
All of the halfwits I knew at school (who I still know) voted to leave (I can tell because they post "Get Brexit Done" memes next to ones about councils banning Christmas and illegal immigrants being entitled to more benefits than pensioners).
That doesn't mean that everyone who voted to leave is an idiot, but if the lies of the leave campaign attracted 650000 more of them than the remain campaign did, then the leave result was artificially bolstered by people who genuinely did not know what they were voting for.
Re: The Isle of Man is not in the UK
#136How do you write this article and not post the Venn diagram?
https://upload.wikimedia.org/wikipedia/commons/1/1f/British_...
Re: The Isle of Man is not in the UK
#137Earlier quoted context omitted.
For that, there's FEIE, and moving your residence to Puerto Rico
Can you elaborate on that?
Puerto Rican residents don't pay federal income taxes (unless they work for the federal government).
Re: The Isle of Man is not in the UK
#138Earlier quoted context omitted.
>After living in the UK for a year and encountering this tax system firsthand, I'm convinced that one of the main reasons for Brexit is that rich people in England are worried that EU tax harmonization could one day take away their sweet loopholes and convenient neighborhood tax havens. It's the same reason they hate Corbyn with such a seething passion too, and McDonnell even more (McDonnell quipped that he found the…
No, they just realise how utterly incompetent Corbyn is. If he keeps sitting on that fence, his bum's going to be full of splinters...
>his bum's going to be full of splinters...
This particular talking point was kicked off and repeated frequently by the two newspapers who are owned by notorious tax avoiders - mail and telegraph. It then filtered down to the rest of the population.
They're also the two who are most pro brexit.
Re: The Isle of Man is not in the UK
#139Earlier quoted context omitted.
For that, there's FEIE, and moving your residence to Puerto Rico
Can you elaborate on that?
Foreign Earned Income Exclusion [0].
[0]: https://www.irs.gov/individuals/international-taxpayers/fore...
Re: The Isle of Man is not in the UK
#140Isle of Man has zero percent corporate tax on (most) money earned outside the Isle of Man, which includes money earned in the UK. If you're a non-resident citizen of the UK, you can deposit your dividends from your Isle of Man company in your UK bank account, tax free. For the time being, IOM companies have GB VAT numbers, and a banking system that integrates seamlessly with the UK one, as well as a postal system (qu…
I lived for four years in the IoM, had an amazing time (until Bushy's closed anyway). But in the process, I opened an IoM bank account to pay my salary into. I carried on using this account for years afterwards (it was with the IoM branch of a UK bank). I benefited from not paying any tax on the interest on my savings account, because tax haven. Not a huge perk, but a nice one anyway. And then, in the wake of the tax…
What rules were they retroactively changing?
If you're resident in the UK, you have to pay tax on all interest income, and this isn't new.
Were you not living in the UK during the period?
BTW HMRC doesn't make/change the rules, although they do interpret and enforce them.