Ah, so LH is organising his finances to minimise tax?

I think missed the Government sponsoring him – I thought it was McLaren who bankrolled his advancement in motorsport.

Does mclaren pay for the education of all it’s employees, their healthcare from birth to death? Did it pay for the roads that take them from their homes to the factory, does mclaren personally finance the emergency services that protects them?

There are a mirriad of benefits and services that everyone in the UK benefits from, and it seems it isn’t always clear to some how tangible many indirect benefits are.

Yep and I’m doing the same paying into an isa.

ads678 – Member

Is Monaco part of the EU?

The interweb from wiki says yes …

“Monaco is a part of the EU Customs territory through an agreement with France, and is administered as part of France. San Marino and Andorra are in a customs union with the bloc. Liechtenstein is a member of the EEA so is within the EU internal market and applies certain EU laws” (Wiki)

Oh ya … if it ain’t illegal then you have no say in this matter coz he has done nothing wrong.

Moral? Can you put a law to that?

Totally predictable response ! almost bet myself a tenner it would appear though not as quick

And yours was a totally predictable F1 is evil, and baby kittens will die if you watch it, post.

Does mclaren pay for the education of all it’s employees, their healthcare from birth to death? Did it pay for the roads that take them from their homes to the factory, does mclaren personally finance the emergency services that protects them?

To the same extent that any company does for its employees, yes.

Corporation tax?

Just waching BBC sport and there is currently an article on about Paula Radcliffe and it’s set in Monaco where she lives with her family which I thought was quite apt for the current discussion. Goes to show how much the elite can earn when they make it. Stark contrast to the ones that never quite manage it.

edit: obviously it could also be due to the income from a partner I guess.

I just saw that! **** Runners. Has run off to pay no tax!

If you have few bobs you will be at it too!

🙄

Bet you £500 I never do.

If you have few bobs you will be at it too!

I was wondering this the other day when thinking about licensing some technology.

At what point would yo jump ship? Or at what point would you be getting so much left after tax you wouldnt give a crap as you had plenty anyway?

To the same extent that any company does for its employees, yes

Well if corporations paid for everything there would be no need for any other taxes, but they don’t.

If you have few bobs you will be at it too!

I would probably move to the Maritime alps in France, so I would actually end up paying more tax, but I put the quality of life ahead of avoiding taxes.

anagallis_arvensis – Member

Bet you £500 I never do.

The question how much do you earn?

In tens of millions?

For those with that money that would equate to a lavish lifestyle that is throw away …

😯

Oh and for athletes I can fully understand wanting to not live in the UK as far as training is concerned. Nice, warm, dry weather. Then there is some food as well which is often just nicer in better climates.

andyl – Member

Oh and for athletes I can fully understand wanting to not live in the UK as far as training is concerned. Nice, warm, dry weather. Then there is some food as well which is often just nicer in better climates.

Nahhhh … you are now trying to be “creative” aren’t you … 😆

Parliament has never intended to tax people who live abroad, except in limited circumstances, so presumably it is not tax avoidance.

Indeed but Monaco?

The question how much do you earn?
In tens of millions?

No it wasnt, as usual what you actually write and what you think you write are not the same.

Before he moved to Monaco I expect Hamilton paid his tax same as everyone else, and probably more of it too than most people.

When should rich people be allowed to move somewhere else? Who decides when they’ve paid what they owe the country for bringing them up?

Personally I couldn’t care less where he lives. If I became rich enough to move somewhere nicer than the Midlands I wouldn’t feel obliged to stay to keep ‘putting something back’ into the country.

Parliament has never intended to tax people who live abroad, except in limited circumstances, so presumably it is not tax avoidance.

You could argue that govs havent intended to have everyone leave when they get rich though…
what he does isnt illegal, its just that many people consider it morally questionable, others dont. C’est la vie

anagallis_arvensis – Member

Indeed but Monaco?

The question how much do you earn?
In tens of millions?

No it wasnt, as usual what you actually write and what you think you write are not the same. [/quote]

What I want to say is this you don’t earn enough to be a tax exile as you cannot afford to.

But if you earn millions you will have that flexibility and you might take that chance.

Morally right or wrong? Most people are morally wrong anyway IMO …

but I put the quality of life ahead of avoiding taxes.

^ this

Apart from the tax issue there is a load of other reasons why you would want to live somewhere like Monaco or most of these other ‘tax havens’.

It would be very wrong if a government could claw back tax from people living elsewhere.

But how many claim they live elsewhere but spend most of their time in the UK? Or are their safeguards already in place against that?

Well if corporations paid for everything there would be no need for any other taxes, but they don’t.

Well that’s a relief, I wouldn’t run a business if it was the other way round!

Moaning about sports people living in tax havens is missing the point surely. How about having a look at the system that allows people like Philip Green to get away with huge tax avoidance, have companies in his wife’s name and make billions of pounds in the Uk, without putting much back in.

Don’t hate the player, hate the game son.

Why do you think there are more billionaires in London than any other city? Because of the lovely weather?

But if you earn millions you will have that flexibility and you might take that chance.

I wouldnt. Same reason I choose not to earn more teaching in the private sector. I dont think its right.

Not right? Sorry so is working as a teacher in the private sector us (morally ) wrong?

In my opinion.

Shirley Lewis Hamilton et al pale a bit when compared to our great powerboating and balloonist hero, Sir Richard Branson? They have a bit of catching up to do.

Is it OK for the UK to take the taxes of the thousands of foreign doctors & nurses working in the NHS?

Shouldn’t their respective nations have some ‘payback’ for training them? Especially the eastern european nations, that need the money more than us?

Don’t hate the player, hate the game son.

It’s OK to have a strong dislike for both, surely?

F1 drivers are terrible for tax avoidance, must be the combination of big money and a calendar that allows them to be based pretty much anywhere.

Footballers would probably be at it loads too if they didn’t actually have to go to work in the UK a few times a week.

Footballers would probably be at it loads too if they didn’t actually have to go to work in the UK a few times a week.

They are.

anagallis_arvensis – Member

But if you earn millions you will have that flexibility and you might take that chance.

I wouldnt. Same reason I choose not to earn more teaching in the private sector. I dont think its right. [/quote]

Yes, you have chosen to be a teacher but others has chosen to be tax exiles so what’s the problem? You have chosen to work like monkey for peanuts while tax exiles feel the same in where they pay their tax. Yes?

I think we all know he left and moved to a low tax country to avoid tax

Apart from the tax issue there is a load of other reasons why you would want to live somewhere like Monaco or most of these other ‘tax havens’.

When he moved to Switzerland he admitted it was for tax avoidance
Lots of nice places have higher tax if you think he is not there primarily to avoid tax then you are somewhat naive.

He is free to do this and i am free to think he is a **** for doing this.

Much prefer the JK Rowling way

The simple fact is that if tax on individuals was lower then the likes of Paula and Lewis would be more minded to stay here – it’s a classic case of the uk receiving lower overall tax receipts because of punitive rates of tax on those who are in fact reasonably mobile and can choose where to live. Or shooting ourselves in the foot in everyday parlance.

Tax avoidance is bending the rules of the tax system to gain a tax advantage that Parliament never intended,” said a spokesman for Her Majesty’s Revenue and Customs (HMRC).

This was the definition AA chose to quote, according to this definition it isn’t, you may wish to define it differently.

it’s a classic case of the uk receiving lower overall tax receipts because of punitive rates of tax on those who are in fact reasonably mobile and can choose where to live

I’d be interested to see the stats you have to support this claim.

Imagine this scenario where you earn £10 million a year then out of that £6 million (assuming 60% tax) goes to the tax pot.

Ya, many bling bling gone! In your mind you work hard, assuming you do, for it then someone grabs a big chunk of it away …

😕

The simple fact is that if tax on individuals was lower then the likes of Paula and Lewis would be more minded to stay here – it’s a classic case of the uk receiving lower overall tax receipts because of punitive rates of tax on those who are in fact reasonably mobile and can choose where to live. Or shooting ourselves in the foot in everyday parlance.

They would also be more likely to stay if if there was an international agreement to blacklist tax havens.

I’d be interested to see the stats you have to support this claim.

I would be interested in any evidence to support any claim they have ever made on this site.
I would not hold your breath if I were you.

When he moved to Switzerland he admitted it was for tax avoidance
Lots of nice places have higher tax if you think he is not there primarily to avoid tax then you are somewhat naive.

I’m not talking about LH specifically nor being naive. Just pointing out there are other benefits apart from the lower tax.

If Monaco and Blackpool had the same taxation and I could afford to live in Monaco I know which I would choose.