Revise Zero:10, Income Tax avoidance by certain individuals

The zero:10 tax arrangement for companies is being used by certain astute individuals to avoid paying personal income tax.  They place their investment portfolio as a loan into an investment company they have set up and live of the repayment of the loan which is a capital receipt and is not subject to income tax.

 

Why the contribution is important

A revised fairer system which would not scare off the entrepeneurs would lead to many tens of millions of pounds going into the public exchequer annually.

by Chris on April 09, 2017 at 04:00PM

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Comments

  • Posted by charlie April 15, 2017 at 20:32

    Same abuse happening with personalised pension schemes.
  • Posted by Nige April 21, 2017 at 14:19

    The percentage tax take from companies fell, during the same period that the "VAT bombshell" occurred, masking its effects. The fact is that companies have never paid so little tax, and yet it has not been so desperately needed for decades. There have even been suggestions on here about putting Tax up on hard pressed workers. Just make business pay its fair share.
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