manshimajin Posted July 23, 2012 Share Posted July 23, 2012 I hear from the BBC this morning that the UKG is now planning more action on 'aggressive" tax minimisation including a requirement to name names of those taking advantage of it and disclosure of scheme details. Cue lots of headline making celebrities busted to placate the masses while the ones who have business links into government continue to abuse the system via the back door. ...by ensuring their wives or partners live in Monaco... Link to comment Share on other sites More sharing options...
Lxxx Posted July 23, 2012 Share Posted July 23, 2012 I hear from the BBC this morning that the UKG is now planning more action on 'aggressive" tax minimisation including a requirement to name names of those taking advantage of it and disclosure of scheme details. Cue lots of headline making celebrities busted to placate the masses while the ones who have business links into government continue to abuse the system via the back door. ...by ensuring their wives or partners live in Monaco... Quite. That will never change. Money makes the world go round and if you have a lot of it, and make friends with the right people, there's not a taxman on earth that can touch you. Link to comment Share on other sites More sharing options...
EORH Posted July 24, 2012 Author Share Posted July 24, 2012 They were talking about it on Newsnight last night,the treasury junior minister was waffling,and said what about the £2billion lost in tax with people paying the tradesmen cash,so avoiding vat etc,intimating that this was a bad thing,so the estimated £250billion lost on the rich avoiding paying tax shoving Trillions away in tax havens is ok then,oh and a young lady on the lead in mentioned the Channel Islands and the Isle of Man. Link to comment Share on other sites More sharing options...
Lisenchuk Posted July 24, 2012 Share Posted July 24, 2012 They were talking about it on Newsnight last night,the treasury junior minister was waffling,and said what about the £2billion lost in tax with people paying the tradesmen cash,so avoiding vat etc,intimating that this was a bad thing,so the estimated £250billion lost on the rich avoiding paying tax shoving Trillions away in tax havens is ok then,oh and a young lady on the lead in mentioned the Channel Islands and the Isle of Man. Thanks for that perspective,I was thinking very much the same myself. Link to comment Share on other sites More sharing options...
Lxxx Posted July 24, 2012 Share Posted July 24, 2012 They were talking about it on Newsnight last night,the treasury junior minister was waffling,and said what about the £2billion lost in tax with people paying the tradesmen cash,so avoiding vat etc,intimating that this was a bad thing,so the estimated £250billion lost on the rich avoiding paying tax shoving Trillions away in tax havens is ok then,oh and a young lady on the lead in mentioned the Channel Islands and the Isle of Man. The screw is turning.... Link to comment Share on other sites More sharing options...
thesultanofsheight Posted July 27, 2012 Share Posted July 27, 2012 £13Trillion Squirreled Away In Tax Havens ... and we still can't balance the books. Link to comment Share on other sites More sharing options...
Cambon Posted August 1, 2012 Share Posted August 1, 2012 £13Trillion Squirreled Away In Tax Havens This may or may not be true. However, the uk is a tax haven to the rest of euroland. Delaware is a tax haven to the usa. Hong kong is a tax haven to china - and the rest of the world. The majority of squirrelled money can be found in these places. not the small offshores, and not Switzerland. They reform other avoidance roles, yes, like low corporate tax, but not squirrelled funds. Link to comment Share on other sites More sharing options...
GD4ELI Posted August 1, 2012 Share Posted August 1, 2012 and not Switzerland Don't you believe it. Also Delaware is a Corporate Tax haven, not a tax haven where you can hide your wealth. Link to comment Share on other sites More sharing options...
Manx Bean Posted August 5, 2012 Share Posted August 5, 2012 The trouble is, it all stems back to that nasty G word - Greed. Let's be honest. If you or I had pots of dosh and could squirrel it away without breaking the law, as eggs is eggs a few of us on here would be sorely tempted I'm sure. A number of governments are trying hard to find out who these people are and do something about it - the most obvious being the USA who are introducing FATCA legislation - which basically means that any financial organisation anywhere in the world has to report the affairs of any US citizen to the IRS, or they go on the IRS 'no Christmas card for you this year' list. Cynically, it would more than liklely cost more to administer than they collect, but hey...that's the US of A for ya! Link to comment Share on other sites More sharing options...
woolley Posted August 5, 2012 Share Posted August 5, 2012 Cynically, it would more than liklely cost more to administer than they collect, but hey...that's the US of A for ya! I doubt that if they really meant business but they may be just paying lip service to it. It's another turkeys and Christmas thing. Link to comment Share on other sites More sharing options...
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