Uk In Talks With Tax Havens In Bid To Raise £10Bn

[slinkydevil]

http://www.bbc.co.uk/news/business-11749085

 

The three tax havens involved in the talks have not been identified.

 

The Financial Times reported that Jersey, Guernsey and the Isle of Man had all denied being approached by the Treasury.

 

Head in the sand time... They haven't spoken to us - we'll be okay, sssh.

[Tugger]

We're alright on this front though, I think - we're on automatic information exchange from next year so there won't be any undeclared funds

[Evil Goblin]

we're on automatic information exchange from next year so there won't be any undeclared funds

I hope you are joking, Tugger. There are a good few dodges around to avoid this automatic disclosure until the revised ESTD is in force (several years yet).

[Terse]

According to today's Independent, they're expecting a 'windfall' of some 3billion from Liechtenstein and a similar amount from Switzerland. They also say that one of the 3 tax havens is in the Caribbean.

[Evil Goblin]

I guess Switzerland is one - the outlines of a deal with them have been around for a few weeks now but talks are ongoing. The Caribbean one is likely Cayman, which has needed UK Governmentsupport because of its' budgetary mess, so UK has a lever there. I don't think Liechtenstein can be number 3 as I believe that deal has been done already.

[Boo Gay'n]

http://www.bbc.co.uk/news/business-11749085

 

The three tax havens involved in the talks have not been identified.

 

The Financial Times reported that Jersey, Guernsey and the Isle of Man had all denied being approached by the Treasury.

 

Head in the sand time... They haven't spoken to us - we'll be okay, sssh.

 

The FT has far more detail, including possible targets: http://www.ft.com/cms/s/0/87230c30-ee99-11df-9db0-00144feab49a.html?ftcamp=rss#axzz15AIlERpB.

[barry shitpeas]

I would like to welcome myself to this forum and give readers the opportunity to read, digest & reply to my comments, Unlike some contributors I am not an axe-grinding polemicist, I merely seek to inform and stimulate debate.

 

 

Such talks on raising £10bn will soon be unnecessary. Somewhere low on the agenda at this weeks G20 was an item with far reaching consequences for the Isle of Man. It was the Treaty on Euro – American Territorial Oceans or TEATO for short. Although its purpose is supposed to be to formalise defence obligations the real power of this bill will be to neutralise tax havens.

Under this agreement all seas between Europe and the US in a line bounded on the south from the Straits of Gibraltar to the Panama Canal and north from Spitsbergen to Nova Scotia will be divided equally between the EU and the US.

Any islands within this area (with the exception of Cuba) not governed directly by the two main powers will be deemed to be in breach of territory, in other words, trespassing. Such island states will then be invited to leave the sovereign territory, which is physically impossible, or be annexed into the nearest recognised country.

 

Whilst this is obviously an American incentive designed to stamp out low tax jurisdictions in the Caribbean the rules will apply equally to British islands which will inevitably surrender independence. Tynwald and all the 33 local commissions councils etc. will be dissolved and administration will be from the nearest local council allocated by post code.

For instance Jersey will be administered by the commune of Cherbourg under the Manche Départment of Normandy . Because of an anomaly in the post coding of the UK the Isle of Man will be administered by Birkenhead Borough Council and represented nationally by Frank Field MP ( Lab majority 5,906).

It is expected that ex Tynwald ministers, MHKs and local government members will be encouraged to stand in the Wirral area local elections in order to secure representation for the island but it seems doubtful given their lack of experience on the mainland that they will make much headway against seasoned local councillors

 

As I said at the beginning, I am not here to pontificate. Merely to keep readers “in the loop” as it were

 

Cheers

 

Barry

[manshimajin]

We're alright on this front though, I think - we're on automatic information exchange from next year so there won't be any undeclared funds

Is this about the outworkings of the EU Savings Directive which seemed to be the case with the recent announcements re. Switzerland? This already operates here and witholding tax rates will be going up to 35% next year. Presumably if UK tax residents have been hiding income from the UK authorities in other legislature things will (and should) be getting tougher for them to avoid declaring it for tax purposes.

[Evil Goblin]

Manshimajin - the present version of the Savings Directive is so full of holes that anyone caught by it deserves to be nobbled! Automatic disclosure should not bother anyone who is reported on. The situation will change with the Amended Directive with all its' "look-through" provisions - we might see a good exodus of business when that happens as business goes East to avoid being caught.

[Evil Goblin]

You wouldn't be Barry Stevens by any chance?

 

I really don't see the scenario you refer to being implementable. More like an old-fashioned agreement on zones of influence where each side agrees to allow the other to run things in its' zone without undue interference from the other side.

[P.K.]

Ah yes, the agreement with Switzerland.

 

So that's all right then!

[Boo Gay'n]

I would like to welcome myself to this forum and give readers the opportunity to read, digest & reply to my comments, Unlike some contributors I am not an axe-grinding polemicist, I merely seek to inform and stimulate debate.

 

 

Such talks on raising £10bn will soon be unnecessary. Somewhere low on the agenda at this weeks G20 was an item with far reaching consequences for the Isle of Man. It was the Treaty on Euro – American Territorial Oceans or TEATO for short. Although its purpose is supposed to be to formalise defence obligations the real power of this bill will be to neutralise tax havens.

Under this agreement all seas between Europe and the US in a line bounded on the south from the Straits of Gibraltar to the Panama Canal and north from Spitsbergen to Nova Scotia will be divided equally between the EU and the US.

Any islands within this area (with the exception of Cuba) not governed directly by the two main powers will be deemed to be in breach of territory, in other words, trespassing. Such island states will then be invited to leave the sovereign territory, which is physically impossible, or be annexed into the nearest recognised country.

 

Whilst this is obviously an American incentive designed to stamp out low tax jurisdictions in the Caribbean the rules will apply equally to British islands which will inevitably surrender independence. Tynwald and all the 33 local commissions councils etc. will be dissolved and administration will be from the nearest local council allocated by post code.

For instance Jersey will be administered by the commune of Cherbourg under the Manche Départment of Normandy . Because of an anomaly in the post coding of the UK the Isle of Man will be administered by Birkenhead Borough Council and represented nationally by Frank Field MP ( Lab majority 5,906).

It is expected that ex Tynwald ministers, MHKs and local government members will be encouraged to stand in the Wirral area local elections in order to secure representation for the island but it seems doubtful given their lack of experience on the mainland that they will make much headway against seasoned local councillors

 

As I said at the beginning, I am not here to pontificate. Merely to keep readers “in the loop” as it were

 

Cheers

 

Barry

 

Why would anyone waste 10 minutes of their time typing out such drivel? It beggars belief.

[cheesypeas]

I would like to welcome myself to this forum and give readers the opportunity to read, digest & reply to my comments, Unlike some contributors I am not an axe-grinding polemicist, I merely seek to inform and stimulate debate.

 

 

Such talks on raising £10bn will soon be unnecessary. Somewhere low on the agenda at this weeks G20 was an item with far reaching consequences for the Isle of Man. It was the Treaty on Euro – American Territorial Oceans or TEATO for short. Although its purpose is supposed to be to formalise defence obligations the real power of this bill will be to neutralise tax havens.

Under this agreement all seas between Europe and the US in a line bounded on the south from the Straits of Gibraltar to the Panama Canal and north from Spitsbergen to Nova Scotia will be divided equally between the EU and the US.

Any islands within this area (with the exception of Cuba) not governed directly by the two main powers will be deemed to be in breach of territory, in other words, trespassing. Such island states will then be invited to leave the sovereign territory, which is physically impossible, or be annexed into the nearest recognised country.

 

Whilst this is obviously an American incentive designed to stamp out low tax jurisdictions in the Caribbean the rules will apply equally to British islands which will inevitably surrender independence. Tynwald and all the 33 local commissions councils etc. will be dissolved and administration will be from the nearest local council allocated by post code.

For instance Jersey will be administered by the commune of Cherbourg under the Manche Départment of Normandy . Because of an anomaly in the post coding of the UK the Isle of Man will be administered by Birkenhead Borough Council and represented nationally by Frank Field MP ( Lab majority 5,906).

It is expected that ex Tynwald ministers, MHKs and local government members will be encouraged to stand in the Wirral area local elections in order to secure representation for the island but it seems doubtful given their lack of experience on the mainland that they will make much headway against seasoned local councillors

 

As I said at the beginning, I am not here to pontificate. Merely to keep readers "in the loop" as it were

 

Cheers

 

Barry

 

 

I thought my name was shit.

[Moghrey Mie]

We're alright on this front though, I think - we're on automatic information exchange from next year so there won't be any undeclared funds

 

 

Also we are not a Tax Haven. Repeat after me The Isle of Man is a Low Tax Jurisdiction. Or more recently The Isle of Man is a Small Financial Centre.

[Snaipyr]

I would like to welcome myself to this forum and give readers the opportunity to read, digest & reply to my comments, Unlike some contributors I am not an axe-grinding polemicist, I merely seek to inform and stimulate debate.

 

 

Such talks on raising £10bn will soon be unnecessary. Somewhere low on the agenda at this weeks G20 was an item with far reaching consequences for the Isle of Man. It was the Treaty on Euro – American Territorial Oceans or TEATO for short. Although its purpose is supposed to be to formalise defence obligations the real power of this bill will be to neutralise tax havens.

Under this agreement all seas between Europe and the US in a line bounded on the south from the Straits of Gibraltar to the Panama Canal and north from Spitsbergen to Nova Scotia will be divided equally between the EU and the US.

Any islands within this area (with the exception of Cuba) not governed directly by the two main powers will be deemed to be in breach of territory, in other words, trespassing. Such island states will then be invited to leave the sovereign territory, which is physically impossible, or be annexed into the nearest recognised country.

 

Whilst this is obviously an American incentive designed to stamp out low tax jurisdictions in the Caribbean the rules will apply equally to British islands which will inevitably surrender independence. Tynwald and all the 33 local commissions councils etc. will be dissolved and administration will be from the nearest local council allocated by post code.

For instance Jersey will be administered by the commune of Cherbourg under the Manche Départment of Normandy . Because of an anomaly in the post coding of the UK the Isle of Man will be administered by Birkenhead Borough Council and represented nationally by Frank Field MP ( Lab majority 5,906).

It is expected that ex Tynwald ministers, MHKs and local government members will be encouraged to stand in the Wirral area local elections in order to secure representation for the island but it seems doubtful given their lack of experience on the mainland that they will make much headway against seasoned local councillors

 

As I said at the beginning, I am not here to pontificate. Merely to keep readers “in the loop” as it were

 

Cheers

 

Barry

 

Why would anyone waste 10 minutes of their time typing out such drivel? It beggars belief.

 

I thought it was funny!