Microsoft Near Deal to Buy Minecraft Maker Mojang

Re:Microsoft Near Deal to Buy Minecraft Maker Mojang by DanBC on Wednesday September 10, 2014 @02:18AM (#8295167)

The UK has a variety of schemes of tax planning[1], tax avoidance[2], and tax evasion[3]. Using such schemes usually requires someone to be wealthy enough to afford accountants and access to the scheme.

Rich people do have ways of reducing their tax burden, sometimes to surprisingly low amounts.

[1] planning is normal reduction of tax burden and is unlikely to be challenged by tax authorities.

[2] avoidance is legal, but sometimes exploits loopholes in tax laws in weird ways and you might risk the Inland Revenue changing the regulations - sometimes retroactively.

[3] evasion is just illegally not paying tax.

[ Parent | on HN ]

Re:Microsoft Near Deal to Buy Minecraft Maker Mojang by makomk on Wednesday September 10, 2014 @05:18AM (#8295670)

Many of the recent tax avoidance schemes that celebrities have tried to use in the UK were outright fraudulent - for example, one involved them falsely claiming that they were used car dealers and reporting fictious losses which were large enough to offset their income for the year. Another involved reporting that they'd invested money in UK film production when they hadn't.

[ Parent | on HN ]