Nick Selby
Well-known member
'Crime' suggests illegal activity. I suggest you phrase it another way unless you are a tabloid journalist.White collar crime is a phrase coined by the press, it includes both "legal" as well illegal modes of money appropriation.
We can argue the point between ISA's and "legal" loopholes till the cows come home but if you're predisposed to believing that morality and the spirit of the law are irrelevant then nothing will come of it.
You and I can both partake of legal and openly advertised tax efficient means of savings such as ISA's (SO CAN GREEN and his wife) that's the difference. Try and see if HMRC will entertain you trying to wangle out of X grands worth of due taxes by saying your wife owns the company and is non domicile. The loopholes are in place for the rich only, ordinary people simply don't have access to either the advice or the mechanism to make it work.
Don't forget also that all the monies nicked by such means ends up in untraceable foreign accounts earning interest and of course never paying any back in return. It's what is wrong with our planet. Do you know why property is nearly impossible to buy now for the young in places like London ? It's hooky money from abroad (being laundered effectively) which snaps up everything creating a false market value, the rents being charged in turn will make you faint. The victim is the ordinary person whom successive governments have sold down the river by turning a blind eye to far too many issues.
ISAs are no different in principle from any other tax efficient means. They are legal and available, just on a different scale to Google/Facebook etc. The end result is still the same.... legal tax efficiency. Millions of us do it.
property is very expensive in London due to supply and demand.... simple as. Yep, some dodgy money has come in but at the end of the day. It's down to supply and demand.
p.s it won't make me feint. I might only be a physio but my wife isn't.......?