It can be a right royal pain in the ass being stinky rich sometimes, especially when you have the government, more specifically the HMRC gunning for your ass. Recently, a whole host of superstars, from actors to footballers and comedians, have been dragged into the limelight for all the wrong reasons.
David Beckham, Spice Girls Halliwell, TV stars Anthony McPartlin and Declan Donnelly, Take That and Jimmy Carr among others were found to have used tax avoidance schemes to scrunch down on what they pay into the government’s coffers.
These ‘superstars’ were found to be among more than 1,000 people using tax evasion schemes, which reportedly cost us all in the region of £175m.
In fact, the HMRC which collects our taxes estimated that the overall cost of tax avoidance in the UK is in the region of £2.2 billion, of which £1.3 billion was loss of income tax, National Insurance contributions and Capital Gains Tax.
What Should Our Darling Superstars Do About Their Tax Scam Now?
What would you do in their position?
Would you use these legal financial plans your accountant proposed to you if you had an income of a few million per year?
It’s too easy to cry obscenities at the likes of Beckham and pop stars.
But wouldn’t we all try pay less tax if we were in their shoes?
After all, more than likely they asked their accountants if these ‘special tax avoidance’ schemes were legal.
And if they were legal is it their fault for being careful with their money?
Wouldn’t it be more appropriate to blame the stupid politicians for not having proper laws so the mega rich can’t find these loopholes?
There’s no point sacking your accountant for doing a ‘good’ job. That’s his duty, right? Look after your finances so you don’t waste your hard earned dosh.
But there is some light…
I heard the ‘Take That band members’ decided to pay back more than £20m to HMRC after investing in one such scheme. Good for them!
Jimmy Carr apparently said he now realises it was “a terrible error of judgment … and that he’s no longer involved in any tax avoidance schemes.
But again, shouldn’t laws be in place so tax avoidance schemes like this don’t exist in the first place?
Then legitimate tax experts wouldn’t offer their clients the opportunity in the first place.
Plus, the crooks at Amazon, Starbucks, Facebook and Google will pay the proper tax they owe in Britain, and the playing field will be much more fair for every British person who has a small business.
Plus own country can benefit from the tax collected by these massive corporations.