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“Catch all” law to stop tax avoidance could be introduced in spring.
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Just another tax that will eventually become part of the norm? I actually don't mind it - better to have a 50% "very high" bracket than increase the higher rate threshold which has happened in the past.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishing -
What does this mean for loan schemes?
If you have an outstanding loan would that be taxed?I'm alright JackComment
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Originally posted by BlasterBates View PostIf you have an outstanding loan would that be taxed?Comment
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Originally posted by d000hg View PostI actually don't mind it - better to have a 50% "very high" bracket than increase the higher rate threshold which has happened in the past.Comment
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Originally posted by AtW View PostGood ideas - treating any loans other than single mortgage as income and taxing it accordingly should help deal with problem of getting in debt nicely.
In fact I suspect it'll be more general than that, using terms such as "artificial" or "for the purpose of avoiding tax" and leave it to the judge's discretion.
So for example you get a loan from a bank to buy a car, and you pay it back with interest, it's clear that there is a business purpose in this transaction. But you get an interest free loan that you never pay back from a trust, and the trust is there to act in your best interests. It's pretty clear that this is for the purpose of avoiding tax.Last edited by BlasterBates; 9 January 2012, 17:00.I'm alright JackComment
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Originally posted by AtW View PostGood ideas - treating any loans other than single mortgage as income and taxing it accordingly should help deal with problem of getting in debt nicely.
Again if you decide you're going to buy a new couch on HP, you'd be happy at paying interest and income tax on such?
It's easy to say just do this to fix the problem when doing this has such a snowball effect on other normal things."I hope Celtic realise that, if their team is good enough, they will win. If they're not good enough, they'll not win - and they can't look at anybody else, whether it is referees or any other influence." - Walter Smith
On them! On them! They fail!Comment
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Originally posted by Incognito View PostSo if SKA decided to lease some extra servers for a year to provide extra grunt you'd be quite happy having to pay interest on the loaned amount as well as paying income tax on the loaned amount?
I was referring to personal loans anyway.
By the way at the moment when SKA Inc buys servers up front we still have to pay corp tax on the amounts spend over annual investment allowance (it gets cut 4 times next FY).Comment
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Originally posted by AtW View PostIf you were 50% taxpayer [crud removed] you'd think differently!Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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They will never get it to stickLet us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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