Fury at Fatcat Lord Fink: 'I avoid tax - but show me someone who doesn't'

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The millionaire Tory donor sparked fury by admitting he used family trusts to slash his bills ? denying vital funds for the NHS, schools, defence and a host of public services

Lord Fink made a mockery of David Cameron?s boasts that he is cracking down on the tax dodging rich with his claim that everyone is at it.

The millionaire Tory donor sparked fury by admitting he used family trusts to slash his bills ? denying vital funds for the NHS, schools, defence and a host of public services the PM has been slashing since taking power in 2010.

His astonishing U-turn comes after he threatened to sue Labour leader Ed Miliband for branding him a tax avoider in the Commons.

Lord Fink, who has given ?3million to the Tories, said: ?The expression tax avoidance is so wide that everyone does tax avoidance at some level.?

The hedge fund guru, a former party treasurer, admitted he had ?used the opportunity ... to set up some family trusts? when based in Switzerland.

Mr Miliband, who on Wednesday named the peer as a holder of an account at HSBC?s scandal-hit Geneva branch, called on the PM to say if he backed Lord Fink?s stance.



He said: ?A Conservative donor challenged me to stand by what I said in the House of Commons. I do.

?David Cameron must explain why he appointed a treasurer of the Conservative Party who boasts about engaging in tax avoidance and thinks it is something that everyone does.

?I don?t think that is the view of most people. The question David Cameron must answer is does he agree with Lord Fink about this? Does he sanction his attitude or not??

Lord Fink had challenged Mr Miliband to repeat his accusations outside the immunity of the Commons.

He had said Mr Cameron was ?a dodgy PM surrounded by dodgy donors?.

The peer later admitted he was not in a position to sue.



But he said: ?I challenged Ed Miliband to repeat the accusations that I used a HSBC bank account to avoid tax and that I was a ?dodgy donor?. He did not. This is a major climbdown.?

He claimed his avoidance was ?at the vanilla, bland, end of the spectrum?.

But his comments will infuriate the 40million ordinary workers who have to pay tax at source.

James Meadway of the New Economics Foundation said: ?Politically, Lord Fink looks out of touch?

Chancellor George Osborne refused to say whether he agreed with Lord Fink that avoidance was rife.

He said: ?I don?t get into the tax affairs of individuals.?

The Serious Fraud Office said it was ready to discuss a possible investigation into why HSBC helped 1,000 super-rich Brit stash millions of pounds in Swiss bank accounts.

And the Treasury select committee said it will summon the bank?s bosses to explain their part in the scandal.

http://www.mirror.co.uk/news/uk-news/fury-fatcat-lord-fink-i-5154755

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I like this (show me someone who doesn't') avoid tax

[Meat-Head]

Later ill tweet this thread to Arnold the MP

[jcgrumbles]

I pay my tax you smug podgy faced tw@t...

[Snowy79]

If I could get away with legaly not getting shafted by the tax man to fund work dodgers, foreign wars, overseas aid I'd do it. you'd be a mug or a lying bass to do otherwise.

[jcgrumbles]

If I could get away with legaly not getting shafted by the tax man to fund work dodgers, foreign wars, overseas aid I'd do it. you'd be a mug or a lying bass to do otherwise.

Ok,so would I,but I cant so hes still a smug podgy faced tw@t....

[GastonJ]

Like this one......

Tax inspectors failed to prosecute a wealthy tax cheat who did not submit returns or pay any tax for 24 years, documents seen by BBC Panorama show.
HM Revenue and Customs had concluded that Paul Bloomfield, a property investor involved in the redevelopment of Wembley Stadium, was a UK resident and liable for 20 years' tax.
Mr Bloomfield was on a list of HSBC clients with secret Swiss accounts.

Tax inspectors failed to prosecute a wealthy tax cheat who did not submit returns or pay any tax for 24 years, documents seen by BBC Panorama show.
HM Revenue and Customs had concluded that Paul Bloomfield, a property investor involved in the redevelopment of Wembley Stadium, was a UK resident and liable for 20 years' tax.
Mr Bloomfield was on a list of HSBC clients with secret Swiss accounts.


Mr Bloomfield enjoyed luxury homes, a boat, helicopter and private jet. His personal fortune was estimated at ?60m in 2006 but when the taxman finally caught up with him five years later Mr Bloomfield was not prosecuted.
His is the most extreme case of tax evasion to emerge following the HSBC scandal and is likely to lead to further questions about HMRC's treatment of wealthy tax cheats.
The latest Panorama revelations came from the minutes of two meetings between Mr Bloomfield and HMRC investigators in 2011.
Mr Bloomfield told HMRC that, despite his lavish lifestyle, he did not own any property or have any income.
The notes of the meeting say: "Bloomfield advised that he has never paid a bill and never received a bill and when he needed money it was sent to him."
"When pressed, Bloomfield confirmed that his living expenses are paid from wherever there is money. In his words there is a box somewhere which contains money and he arranges for the bills to be paid."

HMRC said it would not comment on an individual taxpayer.

http://www.bbc.co.uk/news/uk-31459067

They can comment all they want, he's never paid any tax so he's not a tax payer. HMRC are s full of sh*t. If I owed them 1 pence they'd be all over me threatening prosecution.

[Meat-Head]

Like where the fuzz can snatch asserts and property etc, for drug dealing, proceeds of crime, great, but not all is from crime, see on real tv the fuzz can take off you more than a bag of sand, then you have to prove where it's come from.

what if you got a money tree

[Snowy79]

Cases like that should be hammered. He's got the wealth and ability to avoid most tax but that takes the piss. Mind you, show me a political party that's not funded by a tax avoider and that goes for ther bastion of the British UKIP. Their largest donor also has his money in Switzerland. Fight for ther hard working British tax payer but be bought by a tax avoider.

[ifred]

Still waiting for my brown envelope your dropped in the c**** for me Meaty????? Is that like a box that contains money
What grumbles said +1