tag:blogger.com,1999:blog-5187043.post114759983190853268..comments2024-03-29T15:19:51.087+00:00Comments on UK Commentators: Soggy Clippings From The Curate's LawnLabanhttp://www.blogger.com/profile/12031578024191117985noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5187043.post-1147731370559400942006-05-15T22:16:00.000+00:002006-05-15T22:16:00.000+00:00umbongo - I borrowed 70k from a building society t...umbongo - I borrowed 70k from a building society to buy a house. Should I have declared the money as income ?Labanhttps://www.blogger.com/profile/12031578024191117985noreply@blogger.comtag:blogger.com,1999:blog-5187043.post-1147710697677957392006-05-15T16:31:00.000+00:002006-05-15T16:31:00.000+00:00The foreign-currency-loan thing is a way of gettin...The foreign-currency-loan thing is a way of getting free money. Even if that profit is then taxed, it's still free money. It works regardless of whether it's a tax dodge, unless I've missed something.Squander Twohttps://www.blogger.com/profile/06968628314723491478noreply@blogger.comtag:blogger.com,1999:blog-5187043.post-1147701286631739022006-05-15T13:54:00.000+00:002006-05-15T13:54:00.000+00:00signalling that the African country is struggling ...<I>signalling that the African country is struggling to keep its economy functioning normally.</I><BR/><BR/>On what terms has the Zimbabwe economy been functioning normally f?or the last few years? <BR/><BR/>Totally misleading statement.Serfhttps://www.blogger.com/profile/03298915724856708344noreply@blogger.comtag:blogger.com,1999:blog-5187043.post-1147638322365063842006-05-14T20:25:00.000+00:002006-05-14T20:25:00.000+00:00A pity as income tax is an abomination.A pity as income tax is an abomination.AntiCitizenOnehttps://www.blogger.com/profile/00017073518049848696noreply@blogger.comtag:blogger.com,1999:blog-5187043.post-1147625309203587862006-05-14T16:48:00.000+00:002006-05-14T16:48:00.000+00:00This tax dodge will not work. As far as HMR&C is ...This tax dodge will not work. As far as HMR&C is concerned:<BR/><BR/>1. the fee for services rendered is what your offshore company received in sterling or sterling equivalent at the time it was received or deemed to be received.<BR/>2 you and the "payer" or "lender" can call whatever was received a loan, a fee or an elephant, but as far as HMR&C is concerned, it's income.<BR/>3. if you are resident in the UK and you control the offshore company, the company is (for tax purposes) resident in the UK and liable to UK tax.<BR/><BR/>Sorry - this tax dodge doesn't work.Anonymousnoreply@blogger.com