...And put corporation tax up to 30% for profits over £100,000.
She also works incredibly hard for that lifestyle, and is still doing so into her nineties. She owes us nothing.
That just might happen, well before Jeremy Corbyn comes to power, and all brought about by the vanity of the Conservative party while in Government.
Ashcroft major donor to Conservative Party finances and maybe policy, stated he was re-domiciled, looking like he was not according to these leaks.
Ashcroft stayed non-dom despite pledges
I am sure the same can be said for the many individuals who are funding her whilst trying to eek out their own existence with the help of food banks.
Yeah, sometimes life sucks. Get over it.
On your first point I agree. On your second I would humbly suggest that this is where the Paradise Papers help. Things like this may indeed help Britain "get over it" - it being the monarchy - in due course. I won't hold my breathe though data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7 I fully accept that I am in a small minority that thinks a young toddler is not the third most suitable person to be Head of State.
A lot of people could be better of if they spent wiser rather than looking good. It’s normally those who earn a fair wage that tend to moan as they want more but at the same time they want the latest and greatest. We see this on this very forum where people want the latest oled and console or watch or car and pay through loans.
Many foreign investors have moved in and to take advantage of our tax system but there are also tax incentives by simply changing your residency if you are able to i.e. becoming Irish or having an Irish passport. I’ve no idea how it all works so it’s no good asking me but my companion mention this last night that she could gain even more incentives by doing so as she is able to as she was born in Ireland.
Funny enough I believe one of her best ever financial gains was made over the vote out of Europe where the money was all invested in UK stocks and shares. Bank handled this very well and she achieved a much better rate of income afterwards. So not all off shore accounts mean you do well.
Elections and such are a good opportunity to make money in the right hands.
What she will never do that is invest in a pension scheme.
The FTSE 100 has hit record levels since the Brexit vote, something that the remainers hate as it doesn't fit their Project Fear narrative, so a lot of people holding UK stock have done well.
As for pension schemes, they are just a tax free wrapper for those investments. Your friend's situation sounds complex so a UK pension scheme may not be suitable for her, but for many UK resident and domiciled taxpayers they are an invaluable method of investing.
I know it's all legal and I also know that many don't care.What I'm saying is that for many investors especially people who just blindly trust a pension company, this stuff isn't visible.It's like in the 70s when nobody gave a thought to battery chicken farming.Once people were aware, they chose to buy free-range despite it being more expensive. I just think that if the whole investment process were more transparent and more information provided to investors, they could then choose to sacrifice profit with investments, schemes, or pensions that were more ethical, weren't so aggressive with the tax avoidance and/or didn't invest in certain industries like defence.
It's 68 Billion in yearly income from 850 Billion(lowest estimate) UK based citizens/business offshore fiscal assets which equates to a loss to the treasury of around 18.5 Billion(lowest estimate) per annum.
That's not foreign investments, that's deliberate offshoring - using tax havens.
Of that offshore income, at least 50% is tax evasion, the rest tax avoidance.
When it comes to offshoring, 100% of that money is of questionable ethics when the country is running a deficit, a large national debt and having to cut services that inevitably cost citizens lives and wellbeing.
Everyone else is paying more for less so that those who don't need anything can have more.
For those that argue that it's just the same as someone on a lower income trying to avoid paying uneccessary taxes:
Lot's of people drop bit's of litter and it's annoying and unsightly, but we've all done it at some point by not picking up something we dropped by accident or deliberately because it was inconvenient to us.
It's wrong and we shouldn't do it, but imaging you have someone that can easily afford to have people run around after them picking up and carrying everything, yet think nothing of wandering around emptying full refuse sacks of litter in the park, on the beach and in the town centre because they can't be bothered to pay.
Even if your household earns £100K a year, your total gross income for your entire working life is going to be around £4.7million. Out of that, you pay what taxes you need to, pay your mortgage, raise, feed and cloth your family.
On the scale of things, you will be doing a lot better than the average family who's gross income is less than 1/3rd of yours.
However, any tax savings you make will still be significant to your families well being, health and happiness.
There are people who save £4.7million in tax per year or much much more.
If you are avoiding paying a tax bill every year that is more than the average household earns in a lifetime, you have more money than you ethically justify and any savings you make will have no significant impact on your families well being, health and happiness in contrast with even a £100k per annum household.
Yet .... magic money tree! magic money tree!