July 2nd, 2012

Tories Advise Top Donors How to Avoid Tax

Dave might think that Jimmy Carr is morally repugnant but that has not stopped the Tories from advising their wealthy donors on how to avoid tax. The Conservative Foundation, an organisation run by an array of Tory grandees and city types, is offering donors the chance to dodge inheritance tax through a scheme in which they leave a “legacy” to the Tory party. The scheme promises to “reduce or even remove completely” the inheritance tax liability of rich Conservative backers, while its website explains how to take advantage of rules allowing tax-free donations to political parties. Although the scheme appears to have been set up on the quiet it is startlingly open about its intentions:

Cameron was always going to be a hostage to fortune over tax avoidance, now he faces the inevitable dilemma of having to deal with questions about his party’s wealthy financiers. He’s hardly making it easy for himself.


78 Comments

  1. 1
    True says:

    Tax avoidance is your duty!

    Like

    • 5
      Lord Stansted says:

      Hear! Hear!

      Like

    • 21
      jgm2 says:

      True. It is the most patriotic thing you can do. The less tax the government collects the more they have to think about doing the unthinkable and living within their (and our) means.

      Like

      • 23
        Gordon Brown says:

        I did not borrow money to promote my political aspirations. My advisors can vouch for me

        Like

        • 32
          the age of Cameron.... says:

          .
          .
          did his right hand man see the light (before the rest of us) and disappeared.
          .
          both Hilton and by definition Cameron are eccentrics….too individualistic for the rest of us?

          Like

          • Really? says:

            Cameron an individualist?

            He proudly boasts for all to hear that he is a progressive, ie: a statist socialist. His big idea is the “Big Society” a rehash of the fabians “Great Society”. Cameron is many things but a free thinking individualist, he ain’t.

            Like

          • Cogito Dexter says:

            I think it’s a bit much to complain about the Tories wanting to help people avoid inheritance tax. It’s been known for years that they want to do away with it completely so why would they advise people to pay it if they didn’t have to? Tax avoidance is arranging your affairs so you pay only what you have to. Tax evasion is not paying at all. Plenty of people benefit from legacies: churches, charities, friends, families, etc. This is a very weak criticism. As jgm2 says above, the less the government gets in tax, the better they have to spend what they do get. I don’t *owe* the government anything. I pay it under protest. My protests will reduce and my support for a government will increase the less tax they take and the better they manage the government’s finances. That’s why Labour will *never* get my vote.

            Like

    • 25
      God's Holy Trousers says:

      Inheritence tax is iniquitous. Work all your life so the government can steal a massive chunk to hand to deadbeats. They should be applauded for finding ways to avoid this legalised theft.

      Like

  2. 2
    Oy Vey says:

    Close to becomming the most incompetant government we’ve ever had, and yes I’m including Brown’s time in that measure

    Like

    • 44
      Durr... says:

      Dave: Is it beyond the legislative draftsmen to find new laws to beat tax dodgers and fiddling bankers?

      Like

      • 57
        Really? says:

        Are you stupid? What on earth would any politician gain by such a thing? Certainly the party that introduced extentions to legalised theft call taxation, would never get my vote again.

        Like

  3. 3
    Brown Watch! says:

    Like

    • 15
      jgm2 says:

      Labour have reneged on every single referendum pledge since 1997. Possibly since before then too but I wasn’t paying attention back then.

      Like

    • 28
      Well it's a thought says:

      The judges have already said that whatever scam Liebour come up with to fool the braindead are just dreams,so whatever spouted about anything even cast iron, it doesn’t mean a dicky bird.

      Like

      • 54
        jgm2 says:

        Labour party pledges are not subject to legitimate expectation.

        Like

        • 65
          Really? says:

          The ruling Troika, all adhere to that particular unwritten convention, when it suits.
          Brown made the mistake of publicly outing himself and his party as liars, for all to see.
          Less foolish people are rather more discreet than the bumbling oaf who ran this country into the ground.

          Like

          • jgm2 says:

            It was funny though wasn’t it when Labour got taken to court for reneging on (I think) the Europ*ean consitution referendum. The judge ruled that Labour election promises were ‘not subject to legitimate expectation’ and the Imbecile was gurning and leering into the cameras as if he’d won a great victory.

            A judge rules that the Labour party are a bunch of liars who are not to be trusted and Brown thought he’d ‘won’. What an imbecile.

            Like

  4. 4
    Brown Watch! says:

    First let’s take a look at the tax arrangements for ‘The Office of Gordon and Sarah Brown.’

    Like

    • 11
      Owain Glyndwr says:

      Indeed while we are about it have a quick look at the bbc, at their little wheeze of making themselves into private companies

      Like

    • 20
      ffs! says:

      Who the fuck do these tossers think they are? The “office of”??? They should get over themselves. They’re enemy #1 right now.

      Like

  5. 6
    klk says:

    why didn’t the BBC tell us about the bankers sooner?

    Like

  6. 7
    jgm2 says:

    I think Labour will have to be very careful trying to make political capital out of the T*ries helping donors reduce IHT. Didn’t Miliband use some creative ways to avoid paying IHT on the family home?

    Like

    • 38
      Mornington Crescent says:

      The sight and sound of Lord Mynarse of Buckpassing touring the studios crying “not me, not me” when this story broke was a taste of things to come.

      Millitwerp, little boy that he is, should remember that old schoolboy truism: whoever smelt it, dealt it.

      Like

  7. 8
    Steve Miliband says:

    ”Reduce or remove the inheritance tax liability” – not exactly the same as joining a scheme to pay 1% Income Tax

    Next: Some Tory MP’s have ISA’s

    Like

    • 13
      Anonymous says:

      Not ‘exactly’ the same, but not so different, either…

      Like

    • 16
      The BBC says:

      Vicious tori*es avoid tax by purchasing 2 for 1 offer in Waitrose SHOCKER!!

      Like

      • 24
        The Graniuad says:

        Tory spotted purchasing camera in Duty free

        Like

        • 43

          Typical Grauniad making up bollocks. MPs buy their cameras wherever they like. Its all on expenses so money is no object.

          That’s why I buy everything from Harrods.
          I’m doing my bit by paying more VAT than necessary.

          I say I’m doing it, but obviously you are paying for it..thanks for that.

          Housed in the photographic department on the 3rd floor, the Pentax 645D is available with an AF55mm lens and is currently priced at £10,495. ..

          Took a lovely picture of me and the missus and Kofi Annan at Sea World, Florida.

          Like

  8. 9
    Owain Glyndwr says:

    the millitwats father was he payed through jersey by the kgb

    Like

  9. 10
    Ed Miliband says:

    Today I shall mostly be bashing my banker

    Like

    • 12
      The Bishop of Tug on the Todger says:

      Makes a change

      Like

    • 14
      Owain Glyndwr says:

      today I will be beating my meat over a copy of sheep farmers weekly

      Like

      • 18
        The man who never was says:

        Or washing up in the surf off the Costa del Sol!

        Like

      • 35
        Rupert my Hero says:

        I used to advertise in the ” Sheep Shearers Weekly” it was a cut above the rest.

        Like

      • 73
        Theoldies are always the bestest says:

        Overheard conversation between a cowboy and an Indian round the chuck wagon:

        Cowboy: “That your dog?”

        Indian: “Yep.”

        Cowboy: “Mind if I speak to him?”

        Indian: “Dog no talk.”

        Cowboy: “Hey dog, how’s it going?”

        Dog: “Doin’ all right.”

        Indian: (Look of shock!)

        Cowboy: “Is this Indian your owner?” (Pointing at the Indian…)

        Dog: “Yep.”

        Cowboy: “How’s he treating you?”

        Dog: “Real good. He walks me twice a day, feeds me great food and takes me to the lake once a week to play.”

        Indian: (Look of total disbelief!)

        Cowboy: “Mind if I talk to your horse?”

        Indian: “Horse no talk.”

        Cowboy: “Hey horse, how’s it going?”

        Horse: “Cool.”

        Indian: (Extreme look of shock!)

        Cowboy: “Is this your owner?” (Pointing to the Indian…)

        Horse: “Yep.”

        Cowboy: “How’s he treating you?”

        Horse: “Pretty good, thanks for asking, he rides me, brushes me down often and keeps me in a lean-to to protect me from the weather.”

        Indian: (Look of TOTAL amazement!!)

        Cowboy: “Mind if I talk to your sheep?”

        Indian: “Sheep lie.

        Like

  10. 17
    screw the lot of them says:

    The whole fucking lot of them are morally repugnant.

    Like

  11. 22
    Murdoch vs Hubbard says:

    Personally I’m delighted Murdoch has started baiting the Scientologists. I don’t like him but I hate the Xenu brigade much more. They’ve always been very litigious and have stalked and intimidated their critics. This time they’re dealing with Murdoch, who has more money and power than them and doesn’t scare easily. It’ll be a fun fight and my money’s on Rupe bringing that bunch of creepy crooks down.

    Like

  12. 26
    Anonymous says:

    Surely it reduces tax only by the tax that would otherwise have been payable on the amount given away, so as a tax dodge it seems fairly useless for the donor.
    (I realise that unlike donations to charity, a donation to a political party might result in knighthoods, peerages, and other things of notional benefit to a donor, but viewed simply as a tax dodge, it still would be pointless.)

    Like

    • 31
      Anonymous says:

      Isn’t the ‘advantage’ that the receiving party gets more than if the tax was paid? As with a charitable donation?

      Presumably the donor welcomes this, if not actually ‘benefitting’ from it themselves.

      Like

      • 45
        Anonymous says:

        Yes, but that’s because charities don’t pay tax on their income (and I suppose the same must apply to political parties in this case). It doesn’t make any difference to the donor. Just as well, or Barrie’s family would be paying for ever for his assignment of his Peter Pan royalties to Gt Ormond Street Hospital.

        Like

    • 61
      Anonymous says:

      Quite. This isn’t, in fact, a tax dodge of *any* description, though some people might misunderstand it that way.

      Like

  13. 29
    Owain Glyndwr says:

    I see call me dave’s policy of making the UK defenseless is a way of us having to join the new EU Defense Force

    Like

    • 52
      Berlin Calling says:

      Now that Frau Merkel is in charge of the EU budgets she will demand that countries cut back on defence spending rather than run up deficits. So when she tells France to scrap her carriers what’s Dave gonna do?

      Then there is the question of what is France gonna do when Frau Merkel says they must scrap their independent nuclear deterrent in order to balance the books.

      Like

      • 58
        Owain Glyndwr says:

        If the french refuse, no they will just collaborate, that why there is trees all over paris, so the german army can march in the shade

        Like

  14. 30
    Rupert my Hero says:

    Cameron is starting to make Gordon Brown, look good.

    Like

  15. 37
    The man who never was says:

    Keeping the treasury’s thieving hands of off our cash is not a crime or a moral issue. By avoiding paying tax we keep the money in the system.

    What do they spend it on if they collect it?

    1) Bailing out banks.
    2) The EU.
    3) Donations to Argentina.
    4) Subsidising their food and drink.
    5) you carry on with the suggestions……

    Like

  16. 40
    Jimmy says:

    What sort of idiot would take financial advice from the conservative party?

    Like

    • 47

      There’s only one party worse for independent financial advice.

      BTW sell all your gold, its worthless.

      Like

    • 49
      jgm2 says:

      Labour 1997 – 2001. The years when they ran surpluses.

      Troll on.

      Like

    • 56
      post-neoclassical endogenous growth theory says:

      Gordon Brown did in his early years and it went very well indeed, Then he started to listen to Balls and that’s when the rot set in.

      Like

      • 60
        jgm2 says:

        It’s difficult to believe that the Maximum Imbecile listened to anybody except the voices in his fucked-up head.

        Like

        • 66

          It was Tony’s fault it all went wrong.

          In 2001 he allowed Gordon a real mobile phone, rather than a squeezy one.
          For the first four years they convinced him it was just bad reception.
          And up until 1999 his laptop was supplied by V-tech.

          Like

          • jgm2 says:

            It was Blair’s fault though. Brown quite obviously went insane after 2001 (or his insanity deepened). He should have been fired the second he suggested hiring one million public sector make-weights with borrowed money.

            Utter fucking madness.

            By following T*ry spending plans the UK economy was in fantastic shape in 2001 and yet after only six years of Brownian economics he’d destroyed the entire economy and left us with 180bn quid annual deficits.

            Years from now when serious economists and historians write the definitive history of the Imbecile years they will cite 2001 as the year it all went wrong.

            Like

  17. 55
    Owain Glyndwr says:

    Wwlll we all took advice from the maximum imbecile and bollocks balls,plus some nutters like the bbc are the millitwats advice to heart

    Like

  18. 59
    The Orifice of Gordon Brown says:

    utter bollox

    Like

  19. 63

    Emigrate.

    It is still legal…

    Like

  20. 64
    Keir Starmer says:

    EXCLUSIVE

    I can now confirm that the SFO (Serious Fraud Office) will be taking action against those who rigged LIBOR.

    All power to our Leader,David Cameron .

    Like

  21. 70
    Where is Balls? says:

    Like

  22. 71
    Perry says:

    I think that they really do not know any better. Mr Cameron did not realise that the Levenson Enquiry was ging to expose he and his like. He did not think through the Jimmy Carr comments and so it goes on…………
    these are the folks, who are so out of touch, that are determining our current and future lives

    Like

  23. 72
    Swiss Toni says:

    By the standards of this website…this is very, very weak.

    The Laws have been the same since 1984. A donation to a Political Party is exempt from IHT…..as is a spouse donation….as are a number of other donations. Quite obvious and it is hardly avoidance to make people aware of a scheme of giving available since 1984.

    ..very, very weak.

    Like

  24. 74
    keredybretsa says:

    Laws are like pie crusts made to be broken.

    Like

  25. 75
    Anita Bellows says:

    Yes tax avoidance is a duty and from tomorrow, it will be extended to all the non conservatives, particularly the poorest ones and especially the ones who have been paying their tax dutifully because they believed that the governement would provide for them in dire times. You know the equation: tax = schools, hospitals, benefits etc. etc. As the government is cutting all that, the deal is off.
    And it will start with me. I resent my tax being spent on waging wars against countries which are not a threat and killing people who never did any harm to anybody.

    Like

  26. 76
    M Agius says:

    The bucks stick to me!

    Like

  27. 77
    John says:

    The debate on tax is curious. When there was some question that charitable donations should be limited there was uproar about how appalling it was. When someone suggests that you can save tax by donating to a charity as is the case with the Conservative party there is again shock horror.
    Any one with a moral compass can see that there is a difference in reducing their tax bill by donating to a charity and reducing their tax bill by an artificial system of loans. In the second case the beneficiary is the tax payer in the first case the money goes to a charity rather than the government to waste.

    Like


Seen Elsewhere

BBC: It Was Guido Wot Won It | MediaGuido
Nick Robinson’s Britain First Selfie | Metro
Dyson: Leave German Dominated EU, Join EFTA |
How UKIP Won Rochester | Seb Payne
Labour’s Islington Problem | Harry Phibbs
Ed Lost More Than a By-Election | Labour Uncut
Labour the Biggest Losers in Rochester | Speccie
Thornberry a Gift to Farage | Nick Wood
Is Left Finally Turning Against EU? | Dan Hannan
Labour Votes Going Green | Guardian
UKIP Winning Class War | Tim Stanley


Find out more about PLMR AD-MS


Ralph Miliband on the English…

“The Englishman is a rabid nationalist. They are perhaps the most nationalist people in the world.”



Left on Left says:

The lefties are attacking because the panellist is a millionaire and lives in a London home worth upwards of two million. Someone had best tell them he’s called Ed Miliband.


Tip off Guido
Web Guido's Archives

Subscribe me to:






RSS




AddThis Feed Button
Archive


Labels
Guido Reads
Follow

Get every new post delivered to your Inbox.

Join 1,597 other followers