Just to start the ball rolling, as The Queen is not legally required to pay tax she cannot be accused of evasion or avoidance...
Tax does have to be taxing.
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https://www.icij.org/investigations/paradise-papers/explore-politicians-paradise-papers/
ReplyDelete"In 2005, the Duchy of Lancaster, Queen Elizabeth II’s private estate and portfolio, invested $7.5 million in Dover Street VI Cayman Fund LP, according to files from the offshore law firm Appleby. The fund invested in and profited from a company that developed fingerprint technologies for mobile phones and made investments in other high-tech and pharmaceutical companies. "
Ah right. So bloody what?
The Duchy (and many others)invested in a Fund structured as a Cayman LP. It could have been an English or Scottish LP which is equally tax transparent, which, in case anybody hadn't noticed, is a core requirement of investment funds: the Investor pays tax, not the fund.
Whether it is lawful or not is not the issue. It is still a totally charmless way to behave by one of the wealthiest people on the planet, and someone who also had the gall to try to claim money from a scheme designed to help the poor with the cost of energy in order to pay for the heating of her various super-gaffs (https://www.independent.co.uk/news/uk/home-news/queen-tried-to-use-state-poverty-fund-to-heat-buckingham-palace-2088179.html).
ReplyDeleteOf course, the boot-licker monarchists will try to explain all of this away and will be aided by the media; mention of Dripping Lizzie's involvement in the scheme has already vanished from the front page of the BBC 'news' site in favour of taking aim at some luvvies and Lord Ashcroft. As you were, serfs, as you were....
Easy solution.....have the law changed to close these loopholes...strangely enough the lawmakers won't do that...wonder why ?????
ReplyDeleteI note the daily mail this morning reads that the Labour Party HQ is leased from an offshore based company. As are plenty of HMRC buildings. Maybe The Daily Mail should not throw accusations around without taking into consideration the tax mans hypocrisy .
ReplyDeleteAnd no doubt the anti monachists will specifically pick on the Queen (Who has no requirement to pay tax, but does) rather than the corporation's that should pay tax here but won't.
ReplyDeleteTax avoidance has been going on for centuries-have a window you need to pay tax on? Simply brick it up. As long as lawyers and accountants write the legislation, accountants and lawyers will find the loopholes to exploit.