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Old 21st February 2014, 21:59   #1
maintenanceman
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Default Would you buy a used car from this man?

Would you buy a car from a DJ?

This story has appeared on several news sites. The DJ Chris Moyles was trying to pass himself off as a used car dealer in an attempt to avoid tax.


Free usage image from Wikipedia by Rabbro

http://www.bbc.co.uk/newsbeat/26297943

http://http://www.telegraph.co.uk/ne...1-million.html

Talk about bringing the trade into disrepute!

It's reported he has learnt a valuable lesson from the episode. Stick to the music mate! He raised millions for Comic Relief so it's a bit sad he's got caught up in this mad scheme.
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Old 23rd February 2014, 20:31   #2
Graham1961
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Quote:
Originally Posted by maintenanceman View Post
Would you buy a car from a DJ?

This story has appeared on several news sites. The DJ Chris Moyles was trying to pass himself off as a used car dealer in an attempt to avoid tax.


Free usage image from Wikipedia by Rabbro

http://www.bbc.co.uk/newsbeat/26297943

http://http://www.telegraph.co.uk/ne...1-million.html

Talk about bringing the trade into disrepute!

It's reported he has learnt a valuable lesson from the episode. Stick to the music mate! He raised millions for Comic Relief so it's a bit sad he's got caught up in this mad scheme.
I would rather buy a used car from Arthur Daley.
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Old 23rd February 2014, 20:33   #3
tareim
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Quote:
Originally Posted by maintenanceman View Post
It's reported he has learnt a valuable lesson from the episode. Stick to the music mate! He raised millions for Comic Relief so it's a bit sad he's got caught up in this mad scheme.
From his twitter;

Chris Moyles ‏@CHRISDJMOYLES Feb 21
I want to comment about a recent tribunal tax ruling.

Chris Moyles ‏@CHRISDJMOYLES Feb 21
Upon advice, I signed up to a scheme which I was assured was legal.
Despite this, my knowledge of the dealings of the scheme were naive.

Chris Moyles ‏@CHRISDJMOYLES Feb 21
I'm not a tax expert and acted on advice I was given. This was a mistake and I accept the ruling without reservation.

Chris Moyles ‏@CHRISDJMOYLES Feb 21
I take full responsibility and have learnt a valuable lesson.
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Old 24th February 2014, 09:13   #4
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But tax avoidance is not tax evasion. Many would avoid tax given the opportunity.
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Old 8th August 2019, 13:11   #5
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I buy new then keep for 10 years. Everytime I've done the math it has worked out for me. I do enjoy the creature comforts of driving a new car and knowing everything that has happened to it.

Just bought used chevrolet for my son. Once he earns on a new car by himself, I let him buy a new one
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Old 8th August 2019, 15:58   #6
macafee2
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I buy new then keep for 10 years. Everytime I've done the math it has worked out for me. I do enjoy the creature comforts of driving a new car and knowing everything that has happened to it.

Just bought a car for my son. Once he earns on a new car by himself, I let him buy a new one
you let him? did you mean to say that?

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Old 8th August 2019, 16:54   #7
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Quote:
Originally Posted by Graham1961 View Post
I would rather buy a used car from Arthur Daley.
I think I did
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Old 12th August 2019, 16:47   #8
mileshawk56
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I pay my income tax- those who avoid theirs by lying are parasites at best and thieves at worse. And I bet they complain they have to wait for a GP appt. or the Police didn't attend quickly enough-etc etc. Chris S.
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Old 12th December 2019, 21:39   #9
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I pay my income tax- those who avoid theirs by lying are parasites at best and thieves at worse. And I bet they complain they have to wait for a GP appt. or the Police didn't attend quickly enough-etc etc. Chris S.
interesting.

I hope I'm right on this and if I am does it make people a parasite.

I will use made up figures for ease

option 1
You earn £3,000 a month
you pay 20% tax
you take home £2400 a month


option 2
you earn £3,000 a month
you put 1/3 (£1,000) into AVC, additional voluntary contribution.. pension
you have £2,000
you are taxed 20%
you take home £1,600


options 1 and 2 go on for 5 years.
5 x 12 = 60, you have put £60,000 into AVC. You retire and take the £60,000 tax free.

you have (5 x 12) x £600 = £36,000 more with option 2 then with 1 after 5 years. £36,000 less tax given to the government, £36,000 more in your pocket.

tax "avoidance" and legal.

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Old 16th December 2019, 10:11   #10
Avulon
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Me, I'm planning on living for more than 4 years when I retire. I think you missed a zero out somewhere: £600,000 is a much more realistic pension pot.


- Best get saving!
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