Re: Naselus
@Matt
"As far as you are concerned, tax planning/avoidance only benefits "the rich", which the pensions fund case shows to be untrue."
There is a difference you are missing. Using ISAs and pensions to save paying tax is using certain financial instruments for the purposes for which they were explicitly designed. They are not loopholes, they are financial instruments created specifically to encourage saving.
Using certain laws on overseas trading which were designed to make the trading easier, to make it look like your company makes no profit by loaning yourself your own money from the Caymans and then paying yourself back at massive profit/interest, when in fact it made billions, is using certain instruments in a way they were never designed for, hence it is an abuse and is morally wrong.
I'm not sure I can even be bothered to attack the arguement about "leave these poor companies alone - they pay LOADS of tax via employee contributions, they shouldn't have to pay corporation tax too! And anyway, they might leave!" - Anyone reading that can see it doesn't make sense on any level.
Biting the hand that feeds IT
