Oh the innocence

Usual wheeze is to become a member of a partnership which is undertaking a trade in such a way that it loses money heavily in the first two years, so you can set those losses against other income. This is done with borrowed money on non recourse terms so you don’t lose any REAL money. Big fans of this sort of thing are Sir Alex Ferguson and Wazza. Google “tax avoidance film schemes” for details

Posted By: Old Git, Jan 11, 17:57:52