Daily Mail Tax Avoidance?

[EDDIE51]

I wonder how much those on AB who love to quote from the Daily Wail, know about the lengths its proprietor goes to to avoid paying UK tax?
https://beastrabban.wordpress.com/2015/04/10/private-eye-on-daily-mails-hypocrisy-over-tax-avoidance/

[SirOracle]

A good posting Eddies.

Why am I surprised at the deafening silence here?.

I await the comments from the avid readers of this rag,trying to justify the position of the immoral proprietor.

[fiction-factory]

The Mail has exposed other tax avoiders (especially when it involves Labour MPs- http://www.dailymail.co.uk/news/article-3060029/Labour-s-Hodge-1-5m-shares-offshore-tax-haven-Senior-politician-accused-hypocrisy-following-earlier-fierce-criticism-tax-avoidance.html) so it can't complain if it's exposed.
But many of us avoid tax in some ways- whether it's taking out ISAs, putting savings interest in the names of our non-taxpaying spouse/children, getting tax relief on pension contributions, taking tax free lump sums on pensions etc- so I'm not sure at what point the line is drawn between acceptable and indecent

[EDDIE51]

FF the lengths Rothermere(Mail Owner)has gone to are extraordinary by any standards.
The Mail is owned by a complex series of interlinked trusts set up in Bermuda and the British Virgin Islands.
Rothermere is registered as a 'Non dom' despite owning several homes in England.
The things you mention are all recognised by Inland revenue as fully acceptable and even recommended by them.

[New Judge]

Good luck to M’Lord Rothermere.

Individuals have an absolute duty to reduce their tax bills to the bare minimum required under the law. Nothing that he has done seems to contravene HMRC rules. If I had the funds that Rothermere has I would do precisely the same. As it happens I do not have such wealth but I do not envy, or denigrate, anybody that has and I applaud their efforts to keep as much of it as they can.

Governments need to learn to manage with less of other people’s money instead of dreaming up ways to give more of it away. I doubt that would alter the philosophy of people like Lord Rothermere (or me) but it might help.

[EDDIE51]

NJ it is not so much the tax avoidance in itself, it is the hypocrisy of the Mail when it comes to other companies that seek to minimise tax liability.
They have run vicious campaigns against such companies, they organised a boycott of Kraft '' If you don't pay our tax we won't eat your cheese''
http://www.dailymail.co.uk/news/article-1335774/Cadburys-Swiss-avoid-British-tax-cost-Treasury-60-million-year.html
You have to scroll down a bit to get to the boycott petition.

[Svejk]

Lol, let's not mention the off-shore trust that subsidises/owns the Guardian.

[Svejk]

I thought that might shut you up.

[New Judge]

I understand the point, Eddie, but it would be foolish to expect a newspaper editor to run pieces criticising his proprietor's financial affairs.

Newspapers are only trying to court their readers by providing them with the articles they think will satisfy them. As it happens my philosophy on tax extends to companies as well. They have a duty to their shareholders to minimise tax and if the government believes they are exploiting loopholes it's up to the government to plug them. When I read articles in the press criticising such companies it simply reinforces my admiration for the ingenuity of their financial advisers. I only wish I had enough dosh to feel the need to do the same. :-)

[EDDIE51]

Svejk I no more condone The Guardian than I do the Mail.
My point is that The Mail is so quick to condemn others when it is worse than any of them.