UK taxpayers pay for the rich’s greed
British people are struggling with their biggest squeeze on living standards at a time of austerity while many high-profile individuals, including the Royal family and giant corporations, are earning billions of pounds through the so-called legal tax avoidance.
Tax avoidance by definition is generally the legal exploitation of the tax regime to one’s own advantage, attempting to reduce the amount of tax that is payable by means that are within the law. Tax offenders exploit loopholes in the law to remove income or assets from taxable situations into ones with lower taxes or none at all. Similarly, Britain’s highly abusive tax loopholes allow wealthy individuals & organisations to evade their tax burden, making the most vulnerable people in the society bear the brunt of spending cuts and pay for the rich’s greed.