Quote:
Originally Posted by ascarracinguk
Not sure what he’s done wrong. If it’s a legal loophole then why wouldn’t you use the tax laws correctly to minimise the amount of tax you pay. We all do it one way or another including pensions, isas, duty free, cash in hand, buying products on holiday and bringing them home etc etc etc.
This is why it’s called tax avoidance, not tax evasion. Perfectly legal...and of course you’re all assuming he knew what his accountants were doing...do you all know how your money is being invested? Thought not
The question people should be asking is why do the loopholes exist
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Just to correct you, but working cash in hand and bringing goods into the country that may attract duty are both considered to be tax evasion and are certainly not legal. And I sincerely hope that we don't all do it.
And not discussing Hamilton, but if an individual has money invested on his behalf by advisers, it is, absolutely minimally, prudent to know where that money is invested because you are ultimately responsible. And before anyone jumps on the band-wagon concerning the Queen's investments, I very much doubt that her investment team for the Duchy of Lancaster consult her on where her investments are made. The assets of the Duchy are huge, and are not in the same league as most private investment holdings.