RBS bankers arrested in HMRC tax probe

#2
does this mean the dodgy fckrs have not paid tax on their not insubstancial bonuses paid for with my hard earned wages-shame on them !! however on the good side they might be sacked and no longer be a drain on my dwindling finances-which is proberbly my second choice of punishment behind castration and being forced to eat their own bollocks sauteed in a creamy white sauce made from dried dogshite !
 
#4
Let us see how this one goes, because it centres around some widely sold Film Financing Schemes that generated tax losses for those who cared to dabble.

Odd that it gets a big splash just after the Rednapp fiasco and Hartnett getting more atrocious press about his expenses.........
 

Wordsmith

LE
Book Reviewer
#5
I think the value of the publicity is in deterring people interested in tax avoidance schemes. You're never going to deter the hard core 'avoiders', but you might deter the 'thinking about it'.

The problem is that some of the UK's tax laws are so convoluted that its actually quite difficult to prove tax evasion in court (cue Harry Rednapp's brief).

And the author of the current complexity in UK tax law is a cnut called Gordon Brown who roughly trebled the number of pages of tax legislation during his tenure - thus probably trebling the ways of legally avoiding tax.

The best way we could raise more tax in the UK is not to raise tax rates, but to reduce the complexity of the tax laws, thus reducing the scope for avoidance.

Simple tax laws = maximum percentage of tax collected.

Wordsmith
 
#6
I think the value of the publicity is in deterring people interested in tax avoidance schemes. You're never going to deter the hard core 'avoiders', but you might deter the 'thinking about it'.

The problem is that some of the UK's tax laws are so convoluted that its actually quite difficult to prove tax evasion in court (cue Harry Rednapp's brief).

And the author of the current complexity in UK tax law is a cnut called Gordon Brown who roughly trebled the number of pages of tax legislation during his tenure - thus probably trebling the ways of legally avoiding tax.

The best way we could raise more tax in the UK is not to raise tax rates, but to reduce the complexity of the tax laws, thus reducing the scope for avoidance.

Simple tax laws = maximum percentage of tax collected.

Wordsmith
simple tax laws= pay wot you are fcking due!!
 
B

bokkatankie

Guest
#7
Let us see how this one goes, because it centres around some widely sold Film Financing Schemes that generated tax losses for those who cared to dabble.

Odd that it gets a big splash just after the Rednapp fiasco and Hartnett getting more atrocious press about his expenses.........
The Film Partnerships were Government Sponsored and enabled many great british films to be made (I am sure there must have been at least one). Substantial tax incentives were available for those who chose to invest in them. It will be interesting to see what HMRC has found out (if anything).
 

Wordsmith

LE
Book Reviewer
#8
RBS staff held in tax fraud investigation - Telegraph

HMRC’s investigation is understood to centre on claims City bankers have been illegally using film finance schemes to evade taxes. Film investment schemes had in recent years become a common way to claim tax relief. UK taxpayers had been allowed to take advantage of statutory tax relief by investing in film production, or to invest in a directly in a film and then write down the value of the investment to nothing to claim tax relief on the loss. The authorities curbed film schemes and so-called “sideways tax loss relief” three years ago, and investors are now limited to £25,000 in tax relief per year unless “actively involved” in the film.
Define actively involved...

Wordsmith