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    VAT evasion...the new buzz-words ?

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    papa_umau
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    VAT evasion...the new buzz-words ?

    Post by papa_umau on Mon 07 Jan 2013, 12:19 pm

    We all know how - or think we know - how many billions of pounds is hidden from the taxman via the tax evasion and avoidance schemes that the fat-cats practice day-in and day-out, but, in order to look like a decent chancellor Osborne has brought to the attention of the people just how much VAT is also lost to the treasury by VAT-evasion.

    See THIS from The Torygraph.

    Quote Osborne: "Tax fraud has reached its highest level since the onset of the financial crisis, as VAT evasion has exploded, costing Britain more than 3bn a year."




    Maybe now he will start to claw back some of the many billions of pounds that is lost to the treasury every year by THESE crooks instead of terrorising the weak, the poor, the sick and the old so much.


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    Re: VAT evasion...the new buzz-words ?

    Post by Guest on Tue 08 Jan 2013, 9:07 am

    The article refers to two types of fraud - carousel fraud which is akin to organised crime whereby billions are reclaimed off HMRC for trades that did not exist in the first place between large companies, and missing trader fraud which is the reclaiming of VAT from ficticious invoices. He does not mention the third type of fraud which is for 'cash' jobs - presumably as it is the poor/sick/old public that benefits, not the trader.

    All I can say is that anyone that fiddles their VAT deserves to get caught and usually is. The temptation is there for sure when company funds are running low and the wages are due....what do we do, close down and lay off staff or delay VAT a week? Hmmm let me think. And before you say it Paps - borrowing from the banks to pay wages is NOT an option.

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    Re: VAT evasion...the new buzz-words ?

    Post by papa_umau on Tue 08 Jan 2013, 12:45 pm

    As a supporter of Osborne and his cronies I would have thought that you might have agreed with his statement that billions of pounds of VAT is lost to the treasury every year by people who use the various scams that are available to them.

    Maybe it would be a good thing to do to catch MORE of them and then the numbers would not be so high.

    Then again, of course, the Tories have no desire to make things harder for their friends in the CBI do they ? If they did, they would REALLY try to fill the holes in the tax-avoidance and tax evasion laws, not to mention the holes in the VAT rules that these crooks find so easy to exploit.


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    Re: VAT evasion...the new buzz-words ?

    Post by Guest on Tue 08 Jan 2013, 1:03 pm

    I do agree with him - what has this got to do with the Tories? You sound like a stuck record at times Paps. I was shedding some light on why it happens. The thing is as a businessman I collect taxes for HMRC both VAT and PAYE without any cost to the taxpayer at all. Maybe it is time this cosy little arrangement ended and they did their own collection if they want to reduce losses.

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    Re: VAT evasion...the new buzz-words ?

    Post by papa_umau on Wed 09 Jan 2013, 10:16 am

    Clapco wrote:I do agree with him - what has this got to do with the Tories?

    CC

    Er..... Is Osborne not a "Tory" ?



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    Re: VAT evasion...the new buzz-words ?

    Post by Guest on Thu 10 Jan 2013, 9:01 pm

    If I agree with Milliband on something does that make me a Socialist too?

    It is possible to agree with someone without becoming a party member you know.

    Dear oh dear

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    Re: VAT evasion...the new buzz-words ?

    Post by papa_umau on Fri 11 Jan 2013, 1:58 pm

    Stop obfuscating..... Osborne IS a Tory and you know it !


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    zathrus
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    Re: VAT evasion...the new buzz-words ?

    Post by zathrus on Fri 11 Jan 2013, 2:30 pm

    Right chaps, back to the topic eh ?

    As my small company is not VAT registered and I still have to gather the VAT for the VAT-man it is painful that I am unable to claim it back as the big boys can.

    Anyway, I often get paid cash-in-hand and that money can get lost very easily. Wink

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    Re: VAT evasion...the new buzz-words ?

    Post by Guest on Fri 11 Jan 2013, 6:01 pm

    Er...you should see an accountant Zath. You do not have to charge VAT (which I presume you mean by 'gather' it) if you are not VAT registered, If you are then you can claim back VAT on any necessary business expenditure. If not you have only to pay it on your purchases in which case someone else 'gathers' it for HMRC. As your business is mostly labour I don't believe you will be better off to register as the amount of purchases you make will be far less than the number of customers you will piss off by charging VAT. Like I say - speak to an accountant.

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    Re: VAT evasion...the new buzz-words ?

    Post by papa_umau on Sat 12 Jan 2013, 1:36 pm

    Yeah Zath, I think that that is good advice you are getting from our Clappers !

    You do not at all seem to be clear about what your VAT responsibilities are.

    I WILL admit that VAT is a definite pain in the proverbial.

    Having said that, I do not think that it is in any way excusable to try to fiddle VAT.


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