Well, David Cameron is being lampooned for once having money in an offshore account. (BBC, 10 April 2016)
It proves my point that all public servants MUST be ‘squeaky clean’ or suffer the consequences.
But, even journalists are happily mixing ‘evasion’ and ‘avoidance’, though tax avoidance is NOT illegal!
Tax avoidance is engaged in by EVERY good accountant on behalf of his employer or client.
It is to avoid paying taxes if there is a legal loophole or legitimate method. But evasion is a deliberate attempt to defraud.
If I had a company I would certainly want my accountant to avoid paying any more taxes than were absolutely necessary. This is because government taxes every individual many times (I believe, at last count, there are over thirty ways that government applies hidden taxes). This is grossly unfair and unwanted.
They do it because countries want to appear to be more astute than they really are, overspending our taxes on things that we don’t want. Paying billions into EU membership is just one example of this!
So, on this occasion I side with Cameron! No man will willingly pay tax unless he is forced to!
Of course, this doesn’t apply to us plebs, who cannot even save a few pounds over our lifetime.
(*Example of tax avoidance. I personally know a company owner who has several brothers, all equal partners, in a successful business. Their accountant now makes them buy very expensive cars (like Range Rovers) every year on company books. The alternative is to give their profits to the government in the form of heavy taxation. Good for them!). Can I hear a few tut-tuts?? Why??