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URL:  https://boards.fool.com/tax-avoidance-30393185.aspx

Subject:  Tax Avoidance....... Date:  11/21/2012  9:32 AM
Author:  telegraph Number:  656302 of 888317

with the high taxes in the UK......the 'celebs' and 'elites' get cracking....


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"
Shocked: Margaret Hodge, the Labour MP and chairman of the Public Accounts Committee, said the scale of the problem was 'staggering'

Shocked: Margaret Hodge, the Labour MP and chairman of the Public Accounts Committee, said the scale of the problem was 'staggering'

Celebrities, small firms and large corporations are among those robbing Britain of around £5billion of tax revenue every year, a damning report reveals today.

The investigation, by the National Audit Office, lays bare the ‘staggering’ scale of tax avoidance – and warns that HM Revenue and Customs is struggling to control the epidemic.

The Government spending watchdog says some 2,289 tax avoidance schemes have been disclosed to HMRC by experts over the last eight years.

But Amyas Morse, head of the NAO, said the disclosure regime, introduced in 2004, ‘has had little impact on the persistent use of highly contrived schemes which deprive the public purse of billions of pounds’.

Tax avoidance is legal while tax evasion, which involves fraud or deliberate concealment, is not.


Read more: http://www.dailymail.co.uk/news/article-2236100/National-Aud...
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I'm sure here the HOllywood elite and the folks like WArren Buffet use all the tax avoidance tricks they can muster...along with all the politicians....

IT's just the 'little guys' like most Americans that can't afford high price 'tax avoidance' lawyers.

Which is why 'taxing the rich' won't produce even half the revenue that Obama thinks it will.....



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