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Ukip Leader Nigel Farage Set Up Offshore Fund To Avoid Tax

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Isn't the EU against offshore funds? Now I can see where he is coming from.

http://www.mirror.co.uk/news/uk-news/ukip-leader-nigel-farage-admits-1972988

Nigel Farage opened an offshore trust fund in a plan to slash his tax bill, a Mirror investigation has revealed.

But he insisted he did not personally benefit from the trust fund he set up in a bid to save thousands of pounds in tax.

And the UKIP leader even claimed he ended up out of pocket after opening the scheme on the Isle of Man.

The 49-year-old paid a tax adviser to create the Farage Family Educational Trust 1654 in the tax haven – which he intended to channel funds through.

The outspoken anti-Europe politician confessed its existence during a string of meetings with our investigators.

But the former City trader said: “My financial advisers recommended I did it, to have a trust really for inheritance purposes and I took the advice and I set it up.

"It was a mistake. I was a completely unsuitable person for it. I am not blaming them it was my fault.

“It’s a vehicle that you chuck things in through your life that you don’t need and you build up a trust fund for your children or grandchildren.

“It was called an ­educational trust and could have been used for grandchildren’s schools fees, things like that.

“It was a mistake for three reasons. Firstly, I’m not rich enough to need one and I am never going to be.

“Secondly, frankly, the world has changed. Things that we thought were absolutely fair practice 10 years, 20 years ago, 30 years ago aren’t any more.

"Thirdly, it was a mistake because it cost me money. I sent a cheque off to set it up.”

Farage’s statements are even more extraordinary as he criticised offshore tax havens – naming the Isle of Man – in a speech in the European Parliament.

Tax expert Richard Murphy, who studied our dossier, said: “There are only two good reasons to set up an Isle of Man trust.

"One is secrecy, you don’t want someone to know what is in there. The other is tax avoidance.

"And sometimes, of course, they go together.”

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Right wing nutjob politician sets up private trust to avoid tax.

Where's the story?

(not in the main forum that's for sure)

Edited by R K

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Set up is the right word lol. I love how they manipulate the people to achieve their goals, you've got to hand it to them they know what they're doing. Make people think about these havens and provide a solution in the form of going global, global government, global army, global bank, king of the world, one ring to rule them etc.

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“Secondly, frankly, the world has changed. Things that we thought were absolutely fair practice 10 years, 20 years ago, 30 years ago aren’t any more.

So when did he set it up?

I think 10 years ago i even claimed a couple of weeks jobseekers even though i had over the dreaded £8k in savings, heinous criminal that I am.

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Sums up the average UKIP voter's mentality. Thanks.

If you think paying tax is such a noble thing to do, I do hope you don't have any ISAs or pay into a pension as they both make use of tax breaks.

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It must be his war fund; to buy a pile of brown coats for his racist lackeys.

Oh please, not the old UKIP are racists thingy again. In a forum populated mostly by people who do their own research before posting, do your own research before posting.

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What's wrong with only paying the amount of tax you have to? It's an accountants job to make sure you only pay the minimal requirement. With a Government that wastes tax money on a grand scale why would anyone want to contribute more than they have to? If it is legal then what are they complaining about? There is a witchhunt on those who are pro wealth and pro independence right now and it has been building for a long time. The masses want their free stuff on the back of those who make the most. I say if you aren't happy with what you earn go and improve or learn a new skill to get a better income. If you're unhappy about the amount you pay in tax go self employed and use the legal system of claiming back expenses. This is what I did, it was hard at first but it was worth it. Much better than sitting around being a miserable sod complaining all the time and venting jealousy adn hatred for those better off than myself.

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Farage had better get all his skeletons out of the closet before he's completely discredited.

quite.

I think he's probably the best of a bad lot, and talks a lot more sense than the other charlatans, but this kind of thing he's going to have to get a handle on.

the mood is changing ALL OVER THE WORLD.

look at all the unrest in brazil/turkey/ everywhere.

all the youngsters are giving EXACTLY the same message to their rulers....ie feck off, you bunch of control freaks, we want our lives back.

when this one kicks off it IS going to be global french revolution on steroids.

corruption and abuse of public office is not going to be tolerated at all......quite soon.

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What's wrong with only paying the amount of tax you have to? It's an accountants job to make sure you only pay the minimal requirement. With a Government that wastes tax money on a grand scale why would anyone want to contribute more than they have to? If it is legal then what are they complaining about? There is a witchhunt on those who are pro wealth and pro independence right now and it has been building for a long time. The masses want their free stuff on the back of those who make the most. I say if you aren't happy with what you earn go and improve or learn a new skill to get a better income. If you're unhappy about the amount you pay in tax go self employed and use the legal system of claiming back expenses. This is what I did, it was hard at first but it was worth it. Much better than sitting around being a miserable sod complaining all the time and venting jealousy adn hatred for those better off than myself.

depends how the wealth the "haves" have is generated.

if it is by honest toil, I don't think people generally have a problem with that.

if it is by con-tricks,and shafting whatever perhaps legitimate competiton stands in the way, than that I believe is going to become the bit that now has to become public enemy number 1(that includes things like intentional debasement/distortion of educational systems etc)

so both the corporatists and the collectivists are guilty.

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corruption and abuse of public office is not going to be tolerated at all......quite soon.

Sorry Oracle, but I won't be holding my breath. The new X-Box and Playstation are out soon don't you know!

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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