By Daily Mail Reporter
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UK celebrities may be using tax avoidance schemes because Britain has one of the highest tax burdens in the world, claim accountants at UHY Hacker Young.
Its research showed the UK collects 34 per cent of GDP in tax, compared with 23 per cent in Japan, 24 per cent in China and 10 per cent in Mexico.
A host of celebrities, including comedian Jimmy Carr (pictured) and several members of Take That, have been singled out for using tax avoidance schemes.
Tax avoidance: Jimmy Carr used the ingenious K2 scheme
Roy Maugham, tax partner, said ‘The high tax burden in the UK is one of the key drivers of individuals looking to use such schemes.’
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Come on DM. Rather than talking pie in the sky about how poor we all are, do something practical about it and campaign for the long overdue house price correction that will make the vast majority of us much better off.
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I see this rag's going to run every angle on the Jimmy story. Regardless though, here's how it hangs; Mr Carr good, DM bad. As for ridiculously low tax rates, I prefer to have an NHS, some sort of safety net and some sort of state pension. There's no point in having low tax if you lose all your money when you get old and sick and die when you run out.
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It is unfortunate that you can not legislate for the lack of morals or integrity - You are either born with them or learn them - some apparently are totally bankrupt of both! Yes we all have a right to plan our tax affairs to minimise our liability within the intention of the legislators - so we use ISAs and pensions to get tax relief as the legislation intended as a by-product of general saving or saving for a pension. All legislation has loopholes (using legislation for a purpose for which it was never intended to be used) and using loopholes should be classed as tax evasion and not tax avoidance. Creating artificial schemes for which the primary purpose of the scheme is simply to reduce a tax liability is evasion. Firms who market such schemes are just as bankrupt of morals and integrity as individuals who utilise the schemes. They may state that they operate within the letter of the law but they certainly don't operate within the spirit of the law!
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UHY H Y website states that 'Our highly experienced team of tax specialists can advise you on all areas of personal tax ensuring the right strategies are put in place in order to relieve your tax burden and achieve your financial goals' - So does anyone think that they may be somewhat biased and perhaps have a vested interest in attempting to deflect the widespread public criticism concerning tax lawyers and accountants who push tax avoidance schemes to the detriment of every UK taxpayer subject to the PAYE system? Is their justification of the use of tax avoidance schemes equally biased by any chance-what would tax as a% of GDP be for Sweden, Germany or France? And who in the UK would prefer a lower tax burden and live in Mexico or China? No one is against tax planning which involves using tax legislation as the legislators intended -ISA/Pensions etc. Tax abuse is using tax legislation for a purpose which was never intended by creating artificial sche mes solely to avoid tax!
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Yes those poor people making millions of pounds, must be difficult. If you don't like it leave, with millions of pounds you are in a much better position than most people to be able to do this.
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