Free Jimmy Carr

This is a discussion on Free Jimmy Carr within the The Foyer forums, part of the Off the Grid category; Originally Posted by Trader333 I think his error in judgment is more to do with having a go at "Fat ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jun 21, 2012, 12:17pm   #22
 
rsh01's Avatar
Joined Nov 2010
Re: Free Jimmy Carr

Quote:
Originally Posted by Trader333 View Post
I think his error in judgment is more to do with having a go at "Fat Cat Bankers" and then doing the very same thing. Also the issue is one of morality and not legality and iirc he pays around 1% in tax. If everyone in the uk adopted the same approach we would be in an infinitely worse situation than even Greece is in. In my view it is about being greedy and it will probably come back to haunt him as he will now become the target of all those anti -tax avoidance protesters which could make his life an utter misery.
I suppose if you have private health cover, pay for private education, pay road tax, have been a victim of police incompetence eg when you get burgled noone gives a monkeys, you may wonder exactly what your 50% tax bill is spent on. Waste collection?

Also if everyone paid similar amount of tax to carr they wld have considerably more money to spend, invest etc, which I guess wld be good for the economy. Perhaps they cld pay for their own refuse collectors. There wld however be a few politicians and bureaucrats out of work.

Re scose's comments - this is correct. Its a 'recallable' loan which never gets recalled.
rsh01 is offline   Reply With Quote
Old Jun 21, 2012, 12:19pm   #23
 
scose-no-doubt's Avatar
Joined Apr 2010
Re: Free Jimmy Carr

I found out before that he paid 3 and a half bags in tax lol.

@rsh01 don't forget that interest accrued - which is why the nonsense is allowed in the first place - is never paid either
__________________
"What the **** is going on here?!" - Mickey B

Looks like Scose be trollin' 'aaaaard tho... as far as some are concerned!
scose-no-doubt is offline   Reply With Quote
Old Jun 21, 2012, 12:21pm   #24
 
barjon's Avatar
Joined May 2003
Re: Free Jimmy Carr

Quote:
Originally Posted by The Leopard View Post
Just dug up one of my old text books.

The key case was MacNiven Vs Westmoreland Investments (2001), which established that tax avoidance, even if legal, was not necessarily acceptable or effective for the purposes intended.

The principle that I referred to in the post above is an old one. A number of cases from the early 80s established that where a taxpayer enters into a preordained series of transactions that includes one or more steps that have no commercial purpose other than tax avoidance, those steps, and their tax consequences, can be ignored for tax purposes.

If you want to look into this further it's known as the Ramsay principle.
Yes, nicely dug up

The problem - not just relating to tax - is that Parliament (Government) create the law by virtue of an Act, but the Judiciary interpret it. That interpretation can often fly in the face of Parliament's intentions in passing the Act, particularly when it has been poorly drafted.

Whilst I applaud the fact that the Judiciary is independent I have always thought that they should pay more regard to the intentions of Parliament in their interpretations - as in Ramsay.
barjon is offline   Reply With Quote
Old Jun 21, 2012, 12:22pm   #25
 
scose-no-doubt's Avatar
Joined Apr 2010
Re: Free Jimmy Carr

As I don't believe that politicians are on the whole particularly intelligent, I reckon they're lobbied for wording etc.
__________________
"What the **** is going on here?!" - Mickey B

Looks like Scose be trollin' 'aaaaard tho... as far as some are concerned!
scose-no-doubt is offline   Reply With Quote
Old Jun 21, 2012, 12:25pm   #26
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
Trader333's Avatar
Joined Jan 2003
Re: Free Jimmy Carr

Quote:
Also if everyone paid similar amount of tax to carr they wld have considerably more money to spend, invest etc, which I guess wld be good for the economy
It is highly unlikely that you would have any infrastructure supported on a 1% tax rate and it has not worked in Greece where tax is heavily evaded.

I am all for low taxation which is why I would look to the Hong Kong model as it has been hugely successful in my view.
Trader333 is offline   Reply With Quote
Thanks! The following members like this post: counter_violent
Old Jun 21, 2012, 12:29pm   #27
Global Moderators are volunteer members with senior administrative powers to moderate all forums.
 
counter_violent's Avatar
Joined Aug 2004
Re: Free Jimmy Carr

Quote:
Originally Posted by Trader333 View Post
It is highly unlikely that you would have any infrastructure supported on a 1% tax rate and it has not worked in Greece where tax is heavily evaded.

I am all for low taxation which is why I would look to the Hong Kong model as it has been hugely successful in my view.
Small Government and Low Taxation.
It's the only way forward.

I just wish the masses would wake up.
__________________
Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others.
counter_violent is offline   Reply With Quote
Thanks! The following members like this post: robster970 , Shakone
Old Jun 21, 2012, 12:29pm   #28
 
barjon's Avatar
Joined May 2003
Re: Free Jimmy Carr

Quote:
Originally Posted by barjon View Post
Yes, nicely dug up

The problem - not just relating to tax - is that Parliament (Government) create the law by virtue of an Act, but the Judiciary interpret it. That interpretation can often fly in the face of Parliament's intentions in passing the Act, particularly when it has been poorly drafted.

Whilst I applaud the fact that the Judiciary is independent I have always thought that they should pay more regard to the intentions of Parliament in their interpretations - as in Ramsay.
I should perhaps add that the problem HMRC face is that they can only challenge on the basis of the wording of the law and not Parliament's intentions behind it.

Scose - aye, but it's the Parliamentary draftsmen that carry the can
barjon is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
jimmy strategy lekimphuongminh Forex 44 Aug 30, 2013 3:00am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)