Tax advisors specifically look for loopholes in tax law

This isn't about not paying too much tax - I used efficiency as a euphemism as that's what the advisors do - this is tax avoidance on a large scale. And the advisors are well paid for that service.

Special Purpose Vehicles (SPVs) are investment structures that are nearly always based offshore and are typically used to hide debt. Part of the reason the credit crisis is with us now.

Posted By: BerlinCanary on January 20th 2009 at 13:25:53

Message Thread

Anyone else feeling the credit crunch ? I'm not yet but lots of my UK friends are being (General Chat) - Steve in Holland, Jan 20, 12:41:55
- O a positive note. The Credit Crunch has arrested Global Warming (n/m) (General Chat) - harry boulders, Jan 20, 13:44:21
  - *On (n/m) (General Chat) - harry boulders, Jan 20, 13:44:48
- Nope (General Chat) - conker, Jan 20, 13:44:03
- Nope. (General Chat) - CB41, Jan 20, 13:00:32
  - You still wanting to move up here ? (n/m) (General Chat) - colincanary, Jan 20, 13:07:35
    - Yes, I will at some stage. At present haven't had any luck selling my house and (General Chat) - CB41, Jan 20, 13:29:09
      - So it is affecting you then (n/m) (General Chat) - Fierce Panda, Jan 20, 13:32:11
        
        Not to the extent that it is others, which makes me lucky I guess. Just means it's (General Chat) - CB41, Jan 20, 13:35:41
        
        We were thinking of moving out to the Ribble valley.. (General Chat) - colincanary, Jan 20, 13:40:04
        
        Kin hell, that'll cost you won't it? Where abouts, Ribbchester area? (General Chat) - CB41, Jan 20, 13:42:21
        
        We would hope, however just that side of Preston would be better then the Pool. (General Chat) - colincanary, Jan 20, 13:46:40
        
        My friend lives on the edge of Bamber Bridge, towards (General Chat) - CB41, Jan 20, 14:05:53
        
        One tends to think that there's probably a reason for that... (General Chat) - Fierce Panda, Jan 20, 13:44:18
        
        it's up north intut? (n/m) (General Chat) - Ralf Scrampton, Jan 20, 14:06:59
        
        No, not "round" there but parts of Pool themselves are. There (General Chat) - CB41, Jan 20, 13:48:18
        
        Its not all Satanic mills you know .. (n/m) (General Chat) - colincanary, Jan 20, 13:47:25
        
        Sssshhhhh, keep it quiet. The more they perpetuate the myth (General Chat) - CB41, Jan 20, 14:00:37
        
        Wibble Valley better... (General Chat) - Fierce Panda, Jan 20, 13:41:29
        
        I will.. (n/m) (General Chat) - colincanary, Jan 20, 13:44:26
        
        Nice one... (General Chat) - Fierce Panda, Jan 20, 13:45:13
        
        I'd have thought it wouldn't have affected you if you do manage to sell your house (n/m) (General Chat) - Fierce Panda, Jan 20, 13:37:11
        
        I think property is now falling faster in the Preston area and (General Chat) - CB41, Jan 20, 13:39:27
- UK Video Game studios letting people go left, right and center. (General Chat) - shoddy, Jan 20, 13:00:23
  - poi (n/m) (General Chat) - Ralf Scrampton, Jan 20, 13:04:09
- read in the paper that even KPMG are asking staff to work 4 days instead of 5 (General Chat) - Tony Martin, Jan 20, 12:53:51
  - Still, it's nice to know that people that caused all this, (General Chat) - pieman63, Jan 20, 12:57:05
    - many have topped themselves (n/m) (General Chat) - SCC 28, Jan 20, 12:58:25
      - REALLY? (n/m) (General Chat) - Charles21, Jan 20, 12:59:37
        
        really? (n/m) (General Chat) - Charles21, Jan 20, 12:59:45
        
        ... (General Chat) - SCC 28, Jan 20, 13:02:29
        
        Is that more frequent than the general population as a whole? (General Chat) - BerlinCanary, Jan 20, 13:09:36
        
        i do think the banking industry can be a bit of a pressure cooker (General Chat) - SCC 28, Jan 20, 13:13:07
        
        i thought the great depression had a lot (n/m) (General Chat) - SCC 28, Jan 20, 13:10:44
        
        only a bit more actually (General Chat) - SCC 28, Jan 20, 13:11:57
        
        The article linked makes interesting reading (General Chat) - BerlinCanary, Jan 20, 13:18:37
        
        cheers (General Chat) - SCC 28, Jan 20, 13:23:34
        
        Yes, see what you mean (General Chat) - BerlinCanary, Jan 20, 13:30:04
  - What's the significance of KPMG in particular? (n/m) (General Chat) - SimonOTBC, Jan 20, 12:56:36
    - They've assisted banks in off balance sheet accounting and setting up SPVs? (General Chat) - BerlinCanary, Jan 20, 13:13:12
      - Is it not a fudamental right of the taxpayer to structure your affairs.... (General Chat) - SimonOTBC, Jan 20, 13:15:17
        
        Tax advisors specifically look for loopholes in tax law (General Chat) - BerlinCanary, Jan 20, 13:25:53
        
        Essentially, that's my job... (General Chat) - SimonOTBC, Jan 20, 13:29:32
        
        Then you're not advising the right clients (General Chat) - BerlinCanary, Jan 20, 13:31:22
    - Im an accountant working for a medium sized firm, KPMG are a large firm (General Chat) - Tony Martin, Jan 20, 12:59:05
      - I'm in the same sector..... (General Chat) - SimonOTBC, Jan 20, 13:01:07
        
        I was at EY in the late eighties/early nineties (General Chat) - camcan, Jan 20, 13:09:33
        
        It seems their strategy this time round is to cherry pick those leaving other firms (General Chat) - SimonOTBC, Jan 20, 13:11:23
        
        No - used to work in the consulting arm (General Chat) - camcan, Jan 20, 13:14:52
        
        That's interesting... (General Chat) - SimonOTBC, Jan 20, 13:15:59
        
        moved to marketing (General Chat) - camcan, Jan 20, 13:22:46
    - traditionally 'safe' sector? (n/m) (General Chat) - camcan, Jan 20, 12:57:10
- oh well, it's only money (n/m) (General Chat) - Charles21, Jan 20, 12:47:37
  - And house in some circumstances. Should be alright here as there are so many (General Chat) - Steve in Holland, Jan 20, 12:57:28
    - good luck stevo (n/m) (General Chat) - Charles21, Jan 20, 12:59:21
- Jus had two voluntary redundanncy excercises at our place, now the next step .. (General Chat) - colincanary, Jan 20, 12:46:54
  - not nice (n/m) (General Chat) - Steve in Holland, Jan 20, 12:56:11

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