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So much for the new money – the old money is at it too! The entire value of agricultural land is exempt from inheritance tax, as is “business” property, which potentially exempts our richest landowners from the tax ordinary In TAXTOPIA a rogue accountant breaks ranks to share his journey from clueless naif to skilled tax consultant -and in doing so blows the lid on the murky world of making the tax burdens of the ultra-wealthy disappear. Compare this with how benefits abuse is handled and the situation seems even more unjust. For every person prosecuted for tax fraud in the UK between 2009 and 2019, 23 were pursued over benefits fraud, according to the think tank TaxWatch – and yet tax offences cost the country nine times more.
Established in 2011, the Young Money Blog was the first British blog to help young people get to grips with personal finance. Taxtopia's anonymous author has done the impossible - created a hilarious and deeply troubling expose about how the world's shady tax system is exploited and proves what we always suspected - that our tax system is rigged against us. Read it and weep.' - Geraint Anderson author of City Boy
Author
Outright tax evasion, when someone knowingly breaks the rules, is the most serious. It’s criminal – but court cases are relatively rare. Only 336 individuals were charged in the most recent annual figures.
In the topsy-turvy world of tax avoidance, you can get richer by buying a yacht, the world's biggest exporter of coffee is Switzerland, and billionaires like Jeff Bezos, Donald Trump and the Duke of Westminster often pay less tax than you do.
Obviously she’s gone for the second option. Fair enough. That’s what a tax adviser would recommend. We’d all love to pay a 0.3 per cent tax rate, I would too, but it shows the non-dom law is dodgy – and it’s absurd there’s only one person in the country who could change that law, and she’s married to him. It’s beautifully simple, and we don’t get to hear the downsides or difficulties, but that can be forgiven. We also don’t get to know what happened to our hero. I’d like to think he was out there still rebelling, perhaps advising the good guys. Now, that’s people being done by at the top of the profession – tax partners earning a million a year advising another multimillionaire how to pay less tax. How is our tax system so screwy that they can do that?”