Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

But these arrangements are clearly fake to avoid tax. There are already laws that see through it, just there is nobody that would dare to do anything about it. In the UK for example, for a long time people paid themselves in loans, to completely avoid tax. This was at first available only to the rich, HMRC knew about it and did nothing. Only when the "pleb" learned about it and started using it, they woke up and applied the tax retrospectively and called it "disguised remuneration". Many people lost everything they had, many committed suicides.

Why HMRC does not do the same with companies using fake charges to hide profits? Those companies got huge competitive advantage over local small companies who cannot afford such creative accounting. So many businesses didn't happen because of that.

I think it's time HMRC doubled down and destroyed this gravy train.

I am sure we have clever people that would build a new Facebook, that is ethical and pays taxes.



Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: