I am really angry. Where do I even begin? I am angry because if you pay UK tax on UK earnings and Indian tax on Indian earnings in India as an Indian citizen and that is within the law, then why do bullies on the internet get to tell you to voluntarily pay more?
Let me say that again. You pay Indian tax on Indian earnings in India, kept in India, not in the UK, as an Indian citizen.
Ever since the Labour Government passed the Independence of India Act in 1947, the British lost the right to seek tax from Indians on Indian income in India. That’s why you start Empires – consider the Boston Tea Party? It’s when the Americans told the British tax collectors where to go.
Actually, the British tax collectors are not even asking for the funds. The law does not require it. Don’t get me wrong, I read Tax Law, this stuff is not simple. There is residence, domicile and nationality and remittance.
Oh, but it feels wrong? Since when the hell are laws interpreted by feelings and emotions? No that’s why we have judges – to be objective. And no judge questions anything about this. We are run by the rule of law not the rule of the mob. When peoples lives are run by mob rule and mob feelings then we are not a country of laws.
“But the Chancellor sets the tax rates.” Yes, and you know who gets to set your interest rates that impact your mortgage and savings? The Governor of the Bank of England – and the last one was Canadian domiciled. No issues there though.
In case you do not think this is also for some about racism – consider that as the Chancellor said, yes it is confusing to many than an Indian lives in Downing Street. Yes, but the Chancellor raised taxes. Yes, I don’t want higher ones either and the best way to reduce the reach of Government in your pocket is not by seeking to go Imperial and take global money from foreigners but take less tax.
Then there are the dimwits who think they know the Finance Acts and the Income and Corporation Tax Acts.
I have a choice, so do most people on how much tax they pay. Imagine I have bought some, say £20k Infosys or Microsoft shares in a tax avoiding vehicle in 2000 and again in 2001 and in 2002 too. Now they would be worth several million pounds. All tax free. You know what that tax avoiding vehicle is called? An off-shore Cayman Trust? Nope? It’s an ISA. Go get one.
You know another way in which I choose to pay less tax? I claim allowable expenses against profits. If I choose not to then I pay more tax. You know what they call someone who chooses to pay more tax? Work it out.
The sexism stinks too- as Rishi said – my wife is not my possession. Not all are sexist on social media comments. But between the sexists and the racists and the overlaps, I reckon I got 30% of the comments.
Then there is the envy and jealousy. Oh dear lord.
Some on social media said I was angry because maybe I was using this (legal) ‘loophole’. First, it’s not a loophole – whatever that is. It’s something you literally tell HMRC about. Second, I can’t use it, I’m ineligible. It’s meant basically for foreigners to ensure they’re not penalised for coming to the UK and so not putting off investors or overseas talent from being here.
The Chancellors wife is Indian, her income is from an Indian company, in India, kept in India. Clive of India would blush at seeking this money. And you cannot overpay HMRC. I’ve done it. They send a cheque back. They don’t like it when you owe money to them, and they don’t like it when they owe money to you.
What next? HMRC should issue a tax demand on all Indians in India on their Indian income kept in India? Sure, Twitter trolls demand it – it helps with their feelings. It will reduce the price of avocados and oil.
