tag:blogger.com,1999:blog-4433144336299288135.post7851544511519927332..comments2024-03-26T13:27:26.499+00:00Comments on Zelo Street: Gilligan’s Ken Tax Story Is A DisgraceTim Fentonhttp://www.blogger.com/profile/00726447899972084146noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-4433144336299288135.post-21349583413513360522012-02-27T18:28:29.328+00:002012-02-27T18:28:29.328+00:00I know plenty of people who are early retired and ...I know plenty of people who are early retired and still do odd pieces of work - whether a couple of newspaper articles, spot of consultancy work, 10 mins spots on TV etc.<br /><br />Most of them haven't incorporated.<br /><br />They just declare all the separate income sources to HMRC at year end.<br /><br />Some mutter about whether they are doing enough to go to the trouble of incorporating but usually don't get round to it.<br /><br />Ken seems to be quite pro-active on setting himself up in the most tax efficient manner. Something he has very vociferously condemned others for.<br /><br />Now I have no problem with what Ken has done apart from the hypocrisy angle. He has cheer-leaded for the misinformed attacks on the like sof Vodafone & Barclays for their tax affairs.<br /><br />There's plenty of genuine tax evasion and tax "e-voidance" that ought to be challenged. Whether it is Cayman Islands bank secrecy or avoiding stamp duty thru using offshore vehicles. <br /><br />So it is a bit rum when Ken castigates anyone not "paying their full share of tax" when he goes to lengths to pay less himself.Shinseihttps://www.blogger.com/profile/09237888519217740228noreply@blogger.comtag:blogger.com,1999:blog-4433144336299288135.post-90151038885059840922012-02-27T18:04:35.554+00:002012-02-27T18:04:35.554+00:00Livingstone doesn't have a "normal job&qu...Livingstone doesn't have a "normal job". None of the things he's been doing qualify by themselves.<br /><br />What he's done is more widespread than you think. I would be surprised to see "lots of people" who have regular multiple sources of income working any differently.<br /><br />And he will have done a Tax Return the same as anyone else - or in his case, got his accountant to do it.Tim Fentonhttps://www.blogger.com/profile/00726447899972084146noreply@blogger.comtag:blogger.com,1999:blog-4433144336299288135.post-60611234939475644772012-02-27T17:57:11.580+00:002012-02-27T17:57:11.580+00:00Most people earning money outside of their normal ...Most people earning money outside of their normal job don't set themselves up as a company.<br /><br />They just declare the extra income (whether speaking engagements or book royalties) to HMRC on their annual tax return.<br /><br />Ken could have done this. Lots of people have multiple sources of income and do not incorporate themselves.Shinseihttps://www.blogger.com/profile/09237888519217740228noreply@blogger.comtag:blogger.com,1999:blog-4433144336299288135.post-60828852628730750082012-02-27T17:12:59.460+00:002012-02-27T17:12:59.460+00:00How do you "just pay normal income tax and na...How do you "just pay normal income tax and national insurance" for speaking engagements and other appearances, not to mention his LBC show? They're not full time jobs.<br /><br />It certainly used to be the case that HMRC preferred to work with freelance workers with multiple income streams in this way. Check with your nearest accountant if in doubt.<br /><br />Also, I don't see where there is any implication that those having a go at Livingstone are making claims of illegality.<br /><br />By all means come back on any of the above if you wish.Tim Fentonhttps://www.blogger.com/profile/00726447899972084146noreply@blogger.comtag:blogger.com,1999:blog-4433144336299288135.post-15288029663984739422012-02-27T16:58:53.520+00:002012-02-27T16:58:53.520+00:00This is silly. You imply that the criticism of Ken...This is silly. You imply that the criticism of Ken is that he is doing something illegal. None of his critics have claimed this. <br /><br />The criticism is that Ken has vociferously condemned others for using perfectly normal and legal tax avoidance strategies. Yet he uses exactly the same. <br /><br />Ken doesn't have to set himself up as a company. He can just pay normal income tax AND national insurance. <br /><br />And he can pay the full 50% income tax on the £250k he earned rather than pay it out to himself over a number of years at a lower rate, or when the 50p tax rate is removed.Shinseihttps://www.blogger.com/profile/09237888519217740228noreply@blogger.com