Super-rich being advised how to avoid Labour tax clampdown, undercover investigation suggests

https://www.theguardian.com/business/article/2024/jul/25/super-rich-being-advised-how-to-avoid-labour-tax-clampdown-undercover-investigation-suggests?CMP=Share_AndroidApp_Other

by JimJonesdrinkkoolaid

14 comments

  1. Did they really need to go undercover to know this? There’s always loopholes.

  2. People who make a living robbing everyone else are advised how to rob everyone else more

  3. Not sure this needed much of an undercover investigation.

  4. No shit? Of course that’s what they’ll do. That’s what they always do. Did anyone not know that?

  5. What do you mean undercover investigation… This is what London does best !

  6. He is just advising! Don’t really see the scandal in this. We are all know there are massive tax hikes around the corner on things like Capital Gains- its like a story before the real story I suppose!

  7. Loopholes that won’t ever be closed because MP’s and their donors benefit from them…

  8. The issue is that the loopholes aren’t closed not with people exploiting them. Everyone should endeavour to pay the least amount of tax that they legally can. The important word being legally.

  9. Here’s how tax avoidance works- the government incentivises a certain behaviour by allowing lower tax on it. People engage in the behaviour that is incentivised. No morality about it.

  10. Every rational person on the planet tries to minimize their tax and maximize their income. Doesn’t matter if you’re rich or not.

    I took a part time masters this year and I could use the cost of this to deduct from my total tax paid. Wow, how evil.

  11. People tax planning to avoid IHT isn’t anything new and hardly just the preserve of the ‘super rich’. A lot of middle class families do this too, particularly if they live down south, near/around London where house prices exceed the IHT threshold even with the lineal descent bonus (not everyone will have the benefit of a spouse’s NRB).

    If I were super rich, ofc I’d ask knowledgeable professionals how to legally reduce my tax liability.

  12. Rich people employing accountants to minimise their tax bill shocker! That’s a Pulitzer prize winning investigation if there was one. Next week their crack team of undercover journalists will reveal that rain is wet.

  13. Greedy people want to continue to be greedy?

    I am shocked at this news!

  14. Good for them. Why would you wait to be fleeced by this greedy government?

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