There is a difference between employing legal loopholes to avoid tax, and helping a client conceal accounts to evade tax.
HSBC scandal.
- Thread starter Danthus
- Start date
Really... I was gutted. I was thinking OcUK is really on it. Especially no talk of Margaret Hodge as she was on Sky News yesterday lecturing about it. After all she dodges tax. It was revealed a few years ago. She will be questioning them tomorrow live on TV.
God typing on a phone is hard, these teeny weeny narrow touch buttons and pinching everything.
Or just "I have been thinking about going contracting" for short.
Soldato
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yay for paye and not being able to dodge my taxes 
Soldato
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Only 1 prosecution in the 12 months that HMRC have known.
The others are in the process of re-paying their liabilities although tax evasion is illegal wonder how many of us would be treated so favourably by the law ?
The others are in the process of re-paying their liabilities although tax evasion is illegal wonder how many of us would be treated so favourably by the law ?
From what i read this morning only ONE of 3600 account holders were prosecuted for tax evasion, and recovered somewhere in the sum of £100million. Can't see the other 3599 people being prosecuted anytime soon.
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The rest have been asked to repay the tax that they've evaded. Can you imagine a common thief being completely let off if they returned the goods that they'd stolen?
But HMRC is completely overworked so what can they realistically do? Despite being a revenue raising department, the coalition government still slashed their budget.
Hilarious. They are all in bed with each other in different ways. People hired for HMRC who then go away with all the workarounds taken to the bankers with better wages.
Government wouldn't pay good enough people a good wage for reform. After all, Government isn't going to reform what they get around themselves while at the same time preaching about morals. It's just a big game. Except who holds the most power…
Soldato
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I think the underlying story is that 'SWISS BANK ACCOUNTS ARE A BIT SUSPECT AND SO ARE SWISS BANKS' and that came as no shock at all!
Just to point out, this new "scandal" is about HSBC helping people evade paying tax, which is illegal. Not avoid paying tax, like any accountant would do.
They have been advising clients on ways to do offshore banking such that they can keep their income secret from HMRC, which is illegal. You must declare your income and pay the tax due. This isn't some profit-strike-out plot or the like. This is straight up laundering.
They have been advising clients on ways to do offshore banking such that they can keep their income secret from HMRC, which is illegal. You must declare your income and pay the tax due. This isn't some profit-strike-out plot or the like. This is straight up laundering.
Permabanned
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Don't know if that is the same as my employer may not like that but if its just a "bank account change" then i may be able to stay a permanent employee but just get paid in to my business account. Not sure if that is the same as contracting or is illegal or what.
PAYE is deducted before it hits your bank account, so it's pointless doing it as a permanent employee.
What you're describing is that you become a business (self-employed) and they pay you for your services as a contractor. You are then responsible for paying VAT, and other duties as a business operating within the UK. Your plot won't work, you'll just get an HMRC officer knocking on your door with a summons.
What you're describing is that you become a business (self-employed) and they pay you for your services as a contractor. You are then responsible for paying VAT, and other duties as a business operating within the UK. Your plot won't work, you'll just get an HMRC officer knocking on your door with a summons.
And in other news: Water makes things wet, the pope ****s in the woods and bears are catholic.
Hopefully naming and shaming these people will allow all governments tax offices to recoup a bit of lost revenue. I know a few Swedes named have readjusted their declarations for the tax years concerned in order to try save face.
Hopefully naming and shaming these people will allow all governments tax offices to recoup a bit of lost revenue. I know a few Swedes named have readjusted their declarations for the tax years concerned in order to try save face.