bluemonday Posted July 29, 2009 Share Posted July 29, 2009 Clicky The UK tax authorities launched a fresh crackdown on savers with offshore accounts yesterday in an attempt to recoup hundreds of millions of pounds in unpaid revenue. HM Revenue and Customs (HMRC) began its first assault two years ago when it raised £400 million by chasing savers who had failed to pay tax on offshore accounts held with five leading UK banks. It has now widened the net to examine people who have accounts with a further 300 UK and foreign-owned banks. Link to comment Share on other sites More sharing options...
bluemonday Posted July 29, 2009 Author Share Posted July 29, 2009 http://business.timesonline.co.uk/tol/busi...icle6731138.ece Link to comment Share on other sites More sharing options...
wazir Posted July 29, 2009 Share Posted July 29, 2009 ClickyThe UK tax authorities launched a fresh crackdown on savers with offshore accounts yesterday in an attempt to recoup hundreds of millions of pounds in unpaid revenue. HM Revenue and Customs (HMRC) began its first assault two years ago when it raised £400 million by chasing savers who had failed to pay tax on offshore accounts held with five leading UK banks. It has now widened the net to examine people who have accounts with a further 300 UK and foreign-owned banks. Meh. Nobody in the UK has offshore accounts in their own names in this day and age except for a few confused old biddies. In my country we have no tax, but also we have no roads, or school really. Link to comment Share on other sites More sharing options...
Addie Posted July 29, 2009 Share Posted July 29, 2009 Nobody in the UK has offshore accounts in their own names in this day and age except for a few confused old biddies. In my country we have no ... school really Really? You do surprise me .not. Link to comment Share on other sites More sharing options...
wazir Posted July 29, 2009 Share Posted July 29, 2009 Nobody in the UK has offshore accounts in their own names in this day and age except for a few confused old biddies. In my country we have no ... school really Really? You do surprise me .not. Tis true, I've laundered money for the best of them in my time. Nobody in the UK would have money in their own name offshore because there is no tax advantage. The only ones who do were encouraged to set them up in the 70s and 80s by adverts in the national papers. These days it's much more complex; corporations, trusts, insurance policies, proper advice etc, than the good old days when we used to fly over with bags of cash. You might want to look into this as this is what keeps the Island rich. Link to comment Share on other sites More sharing options...
Evil Goblin Posted July 29, 2009 Share Posted July 29, 2009 "These days it's much more complex; corporations, trusts, insurance policies, proper advice etc, than the good old days when we used to fly over with bags of cash. " No use coming here with a satchel full of cash these days! No-one would touch it. As for trusts, etc. the revised ESTD is going to nail a lot of people. Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted July 29, 2009 Share Posted July 29, 2009 No use coming here with a satchel full of cash these days! No-one would touch it. Bellyup would! Link to comment Share on other sites More sharing options...
monthlycurse Posted July 29, 2009 Share Posted July 29, 2009 I was reading that the number of requests from the UK treasury to the offshore centres that were actually answered with information was falling not rising, and the numbers employed by the tax collecting department was also falling. So maybe its actually becoming easier to conceal offshore assets from the UK Treasury, so long as you reply something along the lines of "I closed that account years ago, honest!"? Link to comment Share on other sites More sharing options...
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