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    The fat-cat tax defaulters finally getting chased.

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    papa_umau
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    The fat-cat tax defaulters finally getting chased.

    Post by papa_umau on Wed 02 Nov 2016, 11:08 am

    HMRC chasing 1.9bn tax from UK's richest people

    HMRC is chasing almost 2bn that is potentially owed in taxes by the UK's richest people, according to the public spending watchdog.

    The National Audit Office said HMRC's specialist unit recovered 416m in 2015 from 6,500 "high net worth individuals" with wealth of more than 20m.

    But efforts are ongoing to recover an estimated 1.9bn, the NAO said.

    Get the full story from The BBC HERE




    I don't know if I believe this news story or not as it has been notoriously difficult in the past to get back unpaid taxes that have been salted away in offshore accounts.

    We shall see I guess.


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    zathrus
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    Re: The fat-cat tax defaulters finally getting chased.

    Post by zathrus on Thu 03 Nov 2016, 12:04 pm

    Yeah Paps, I don't believe it either.

    I do believe that HMRC are being censured for using premium numbers on their helpline services.

    Read about it here: http://www.telegraph.co.uk/finance/personalfinance/tax/9832821/HMRC-0845-phone-number-makes-make-six-figure-profits-from-41p-a-minute.html
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    papa_umau
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    Re: The fat-cat tax defaulters finally getting chased.

    Post by papa_umau on Fri 04 Nov 2016, 11:22 am

    I would just love to see this or any other government clamping down on unpaid tax and especially when it is the rich who are doing it.


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    Angie baby
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    Re: The fat-cat tax defaulters finally getting chased.

    Post by Angie baby on Sat 05 Nov 2016, 12:06 pm

    There is the money that is admitted to having been earned and then there is the money that has not been admitted as earned.

    The very rich and their clever accountants know of many ways to avoid and evade taxation by putting this money into foreign banks but many do not realise that avoidance is not illegal, even if it should be, but evasion is illegal.

    In many cases there is a very grey area between these two criteria.
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    papa_umau
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    Re: The fat-cat tax defaulters finally getting chased.

    Post by papa_umau on Sun 06 Nov 2016, 12:24 pm

    Yes there are loads of loopholes here and the clever accountants know all of them.

    The government could have closed these loopholes many years ago but they did not do it and their well-off buddies patted them on the backs for this service.


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