Jacques Villeneuve's Tax Avoidance

[S griffin]

He's always seemed to have controversy follow him around has Jacques. Shame really, because it makes us forget what a great driver he was back in the day

[Adam43]

And is effectively not news now either, at least with JV.

Welcome to 10-10ths.

[RED55]

[QUOTE=SpencerWhite;4107210]Well, it’s not news that the rich will always find a way to evade taxes. This story is as old as the

[Maxymum25]

Sorry for reviving this thread. Any news on this case?

[A20 YBP]

The rich are mighty until they get caught. And this happens in a lot of cases thanks to the whistleblowers. Brave people!

[Tourer]

The late, great, Kerry Packer's view on minimising tax. This was in front of a parliamentary select committee back in the day.

I'm not rich but I wouldn't pay 1c more than I absolutely have to when it comes to tax.

[Mike Harte]

I cannot speak about tax laws and rules in other countries, and I'm not up-to-date on most current rules as I no longer practice and haven't for more than 20 years, but certainly in the past, UK tax rules are inherently unfair.

A typical example would be concerning the tax treatment surrounding cars used in conjunction with business. A fairly well paid employed person, if using a company vehicle with which he also travels to and from work, has to declare such as a taxable benefit and would be taxed a certain amount for that privilege.

However, a person doing exactly the same as above but is considered to be self employed, is able to claim certain relief against taxation for the use of such a vehicle.

How is that fair and equitable? I appreciate that I've over-simplified the tax treatment, but it's the principle behind it that is unfair. And it is why most people should and could use all available tax legal avoidance that is not manufactured, but certainly not tax evasion.

[NaBUru38]

At least in the United States, it's the opposite.

https://www.propublica.org/article/p...ions-irs-files

[S griffin]

It's been two years since this came up. I'm not sure what is happening

[Woolley]

Originally Posted by Mike Harte

A typical example would be concerning the tax treatment surrounding cars used in conjunction with business. A fairly well paid employed person, if using a company vehicle with which he also travels to and from work, has to declare such as a taxable benefit and would be taxed a certain amount for that privilege.

However, a person doing exactly the same as above but is considered to be self employed, is able to claim certain relief against taxation for the use of such a vehicle.

How is that fair and equitable? I appreciate that I've over-simplified the tax treatment, but it's the principle behind it that is unfair. And it is why most people should and could use all available tax legal avoidance that is not manufactured, but certainly not tax evasion.

Not really the same, though, are they? The first is using company property for personal use, saving themselves the purchase price of a car, or effectively receiving same in lieu of salary. The latter has bought the vehicle, but it depreciates at a greater rate due to extra use in relation to the business.

[A20 YBP]

Originally Posted by A20 YBP

The rich are mighty until they get caught. And this happens in a lot of cases thanks to the whistleblowers. Brave people!

Good thing they get rewarded, as shown by this law firm. Otherwise, it's all for nothing.

[morninggents]

Originally Posted by A20 YBP

Good thing they get rewarded, as shown by this law firm. Otherwise, it's all for nothing.

But isn't the law firm just like ambulance chasers?

I always believe when I see a law firm say 'for the people' they actually mean 'for themselves'.