Why Robert Peston is wrong about Ian Cameron’s tax avoidance | Tax Research UK
Richard Murphy of Tax Research UK believes Robert Peston is “just wrong”. Here’s the link to the Peston article, and here’s what Mr Murphy had to say:
It’s hard to see how a man who has got so far can be so wrong on tax avoidance.
As Peston puts it:
Blairmore’s tax avoidance does not in and of itself prove that Ian Cameron and his family avoided tax.
I beg to differ.
So first, let’s be clear what the objective of tax compliance – that is tax honesty – is. It is seeking to pay the right amount of tax (but no more) at the right rate, in the right place at the right time, where right means that the economic substance of the transactions undertaken coincides with the place and form in which they are reported for taxation purposes.
So what is tax avoidance? That is using loopholes within and between laws and legal systems to make sure that tax payments are not compliant (as defined above) in ways that do not breach the law.
In this case is what Ian Cameron did tax avoidance? Yes, of course it is.
Source: Tax Research UK » Fisking Robert Peston on tax avoidance
Join the Vox Political Facebook page.
If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!
Vox Political needs your help!
If you want to support this site
(but don’t want to give your money to advertisers)
you can make a one-off donation here:
Buy Vox Political books so we can continue
fighting for the facts.
Health Warning: Government! is now available
in either print or eBook format here:
The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:
Robert Peston is obviously wanting to be on the Camorons Xmas card list. Will be really interesting when the real tax facts and interests are eventually flushed out about the Camoron and his family or friends…….he still needs to be at arms length to any tax discussions as possible despite what his spokeperson states on his behalf.
If the benefits were so marginal, why do it, flying to the Bahamas or Switzerland for meetings wouldn’t have come cheap. If there were not massive tax savings to be made they wouldn’t do it!
Unfortunately your argument is wrong . As to why see https://shawsheet.com/2016/04/06/issue-48-2016-04-07-tax-havens-and-panorama-john-watson/
Another useless, incompetent, spineless BBC worker who’s running scared of the government!
he works for ITV now
Notice that Cameron et al (through third parties) are now attempting to draw a distinction between Offshore Companies and Trusts. Additional to the previous subject of his attempted EU intervention. There is no difference, board members and Trustees control either entities. Both are also controllers of a group as individuals. Liability for money fraud, laundering and tax evasion is equally placed on each and any controller. Being a member of a board or a trustee encumbers one with a responsibility to have knowledge of whats going on. Trusts & Companies (Offshore) have in all respects the same underlying intention, to avoid tax from the country of origin. Cameron is obviously worried, to take this stance he has read and understood the implications. His ultimate defense will rest on not having knowledge of the transactions of a board / trustee’s, the question is, was/is he a trustee. If he was, there is no defense, but even if not, it is not unreasonable that he should have known, after all, he is/was a beneficiary. Vis a vis Osborn. Such diversionary tactics are well catered for within the law, It’s time he, and others came clean and stepped down.
Peston, these days, is talking more and more out of the wrong orifice, I sometimes wonder if he has lost the plot entirely and it’s this kind of interpretation and other silly remarks that he has made that leave him open to well earned criticism.