New Posts For Thread: Sir Alex Ferguson among hundreds ordered to pay back TWENTY times their investment in tax schemehttps://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-schemeand some fear bankruptcy http://www.mirror.co.uk/sport/football/news/sir-alex-ferguson-among-hundreds-9288782Shame.I think it is reasonable that HMRC are getting tough on people who only pay small amounts of tax in relation to their income. There is a swing of the pendulum going on here, for years these people have been getting away with it very nicely, well lifehttps://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550478657#550478657I think it is reasonable that HMRC are getting tough on people who only pay small amounts of tax in relation to their income. There is a swing of the pendulum going on here, for years these people have been getting away with it very nicely, well lifeMon, 21 Nov 2016 05:11:51 -0600with the new rules coming in,universal credit etc the cleaner at philip greens office at the moment would be paying an effective tax rate of about 95% on any extra hrs worked,even with the new rules on universal credit they will be paying 67% tax rathttps://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550478623#550478623with the new rules coming in,universal credit etc the cleaner at philip greens office at the moment would be paying an effective tax rate of about 95% on any extra hrs worked,even with the new rules on universal credit they will be paying 67% tax ratMon, 21 Nov 2016 05:03:49 -0600Sparrow if you contributed into that scheme for 34 years .... it would appear very poor value. Did you have the option of a tax free lump sum, this may have reduced your current tax bill I would like to thank the 300,000https://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550478229#550478229Sparrow if you contributed into that scheme for 34 years .... it would appear very poor value. Did you have the option of a tax free lump sum, this may have reduced your current tax bill I would like to thank the 300,000Mon, 21 Nov 2016 02:16:30 -0600What about the tradesman who 'employs' his wife as his bookkeeper ? Is that OK ?Or the employee who makes sure they work exactly 16 hours a week to maximise tax credits ? Is that OK ?Where exactly do you draw the line ?https://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550476703#550476703What about the tradesman who 'employs' his wife as his bookkeeper ? Is that OK ?Or the employee who makes sure they work exactly 16 hours a week to maximise tax credits ? Is that OK ?Where exactly do you draw the line ?Sun, 20 Nov 2016 17:29:12 -0600How about the millionaire who runs his business through a company (drawing little out) and paying just 20% corporation tax ? Is that OK ?https://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550476683#550476683How about the millionaire who runs his business through a company (drawing little out) and paying just 20% corporation tax ? Is that OK ?Sun, 20 Nov 2016 17:25:08 -0600How can one legal tax avoidance scheme be socially acceptable, and encouraged but others deemed so immoral ?https://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550476667#550476667How can one legal tax avoidance scheme be socially acceptable, and encouraged but others deemed so immoral ?Sun, 20 Nov 2016 17:23:08 -0600Yes I do receive a public sector pension. I paid into the scheme for 34 years paying tax at 10% then and now receive £140 a week which is now taxable at the appropriate rate. As a result my state pension is reduced for being in the scheme. So much fhttps://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550476613#550476613Yes I do receive a public sector pension. I paid into the scheme for 34 years paying tax at 10% then and now receive £140 a week which is now taxable at the appropriate rate. As a result my state pension is reduced for being in the scheme. So much fSun, 20 Nov 2016 17:15:59 -0600What about tax laws that are unclear , open to interpretation, or maybe just badly drafted ?Is it OK to test or take 'advantage' of these ?What about the multi-millionaire who has no income and therefore pays no income tax ? Is that OK on your moralhttps://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550476593#550476593What about tax laws that are unclear , open to interpretation, or maybe just badly drafted ?Is it OK to test or take 'advantage' of these ?What about the multi-millionaire who has no income and therefore pays no income tax ? Is that OK on your moralSun, 20 Nov 2016 17:13:23 -0600Providing they comply with the tax laws we have - the film schemes palpably failed that test so the contributors to the said schemes are required to pay back the benefits claimed together with interest & penalties because they were cheating the systehttps://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550476491#550476491Providing they comply with the tax laws we have - the film schemes palpably failed that test so the contributors to the said schemes are required to pay back the benefits claimed together with interest & penalties because they were cheating the systeSun, 20 Nov 2016 16:52:08 -0600A while ago now, but the law is the same, even here. “Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increasehttps://community.betfair.com/horse_racing/go/thread/view/94102/30753795/sir-alex-ferguson-among-hundreds-ordered-to-pay-back-twenty-times-their-investment-in-tax-scheme?post_id=550476473#550476473A while ago now, but the law is the same, even here. “Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increaseSun, 20 Nov 2016 16:48:50 -0600