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Osborne Advised Using Financial Loopholes To Avoid Tax And Care Costs

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http://www.theguardian.com/politics/2015/feb/16/osborne-advised-using-financial-loopholes-to-avoid-tax-and-care-costs

“The one piece of advice I would give to Bill [a viewer] is that there are some pretty clever financial products that enable you in effect to pass on your home, or the value of your home, to your son or daughter and then get personal care paid for by the state,” Osborne said.

He adds: “I probably shouldn’t be advocating this on television.”

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Yes.

Let's slag off Labour to distract from the evil lizard-lipped moron currently in charge of economy.

I hate UK politics. Might as well be in a playground most of the time it's so juvenile.

Edited by byron78

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Yes.

Let's slag off Labour to distract from the evil lizard-lipped moron currently in charge of economy.

I hate UK politics. Might as well be in a playground most of the time it's so juvenile.

That "Deed of Variation" Strategy used by Milliband is completely vanilla tax planning - it was actually taught to me when I was training as an accountant. What it basically does is enable people to fully utilise the tax allowances of the deceased by putting in place the arrangements that would have existed had the deceased written his will with competent advise the day before he/she died. It actually helps "the little people" who don't have their tax affairs reviewed by a team of experts every year.

I have no problem with it and I don't see it as dodgy in any way. It's nothing like what Osbourne seems to be proposing.

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Why not just claim as many benefits as you can as well.

If you're entitled, why not?

You suggesting we all decide to decline benefits and pay extra tax?

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Why not avoid tax? What are you supposed to do, go looking to pay as much as you can?

Why not claim benefits or set up your family working structure to maximise your tax credits intake whilst you're at it?

Osborne is advocating forcing the state to pay all care costs and hiding your own personal wealth in the video by the way. It's benefit fraud by any other name.

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Couldn't agree more, but that's not what Dave and George have been saying recently.

Who cares? They just lack the balls to say what's obvious: the narrative has been dictated by rabble-rousing media & Millipede looking for a purpose.

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Who cares? They just lack the balls to say what's obvious: the narrative has been dictated by rabble-rousing media & Millipede looking for a purpose.

I care, I'm fed-up to the back teeth with sanctimonious, hypocritical, career politicians.

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That "Deed of Variation" Strategy used by Milliband is completely vanilla tax planning - it was actually taught to me when I was training as an accountant. What it basically does is enable people to fully utilise the tax allowances of the deceased by putting in place the arrangements that would have existed had the deceased written his will with competent advise the day before he/she died. It actually helps "the little people" who don't have their tax affairs reviewed by a team of experts every year.

I have no problem with it and I don't see it as dodgy in any way. It's nothing like what Osbourne seems to be proposing.

Erm ... the little people don't have accountants.

But then, neither do we have inheritances of the size that risk being taxed.

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I care, I'm fed-up to the back teeth with sanctimonious, hypocritical, career politicians.

I can think of nothing worse than Osborne until I look at Balls.

And vice versa.

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I care, I'm fed-up to the back teeth with sanctimonious, hypocritical, career politicians.

But the point at stake is what the f*ck is wrong with organising your affairs within the law to minimise your tax bill?

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Erm ... the little people don't have accountants.

But then, neither do we have inheritances of the size that risk being taxed.

That's my point, The DOV allows you to "backdate" a will once you discover that you've been caught by IHT. It's not a perfect system, but I suspect that people might talk to an accountant or lawyer when they get probate over an estate, even if they don't have such an adviser on a regular basis.

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They are all hippocrits. Politics is a game of sound and fury amounting to very little.

Of course people should be doing all they can to pay less tax - if the tax system wasn't so complicated and convoluted! (There would be fewer accountants needed.)

One thing you don't hear much of - anything - these days is all the benefits that go unclaimed. Used to be well over £10b. A statistic that clearly has been suppressed. The little people see...

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They are all hippocrits. Politics is a game of sound and fury amounting to very little.

Of course people should be doing all they can to pay less tax - if the tax system wasn't so complicated and convoluted! (There would be fewer accountants needed.)

One thing you don't hear much of - anything - these days is all the benefits that go unclaimed. Used to be well over £10b. A statistic that clearly has been suppressed. The little people see...

:blink:

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They have no god given right to tax Us. Tax avoidance is not against the law. I'm fact every one in the country should be doing our best to avoid giving those public sector sheisters any more of our money than we need to.

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