Imaginative tax planning - interest on a childs bank account

[Mailman]

Yes, HMRC already knows and has access to everything it needs from the banks here.

Mailman

[minsky1]

One ex-colleague who thought of himself as a bit of a Ken Dodd style tax evader gave his exact same name to his son with a view of opening up a few bank accounts in the boy's name and muddying the waters with HMRC a bit.

Often wondered what scope there was in doing this and how far this could be taken. Obviously the DOB would make the accounts unique, but if your running a largely cash business or banking cheques, who knows.