The taxman cometh

[BlasterBates]

...for those who've stashed their money away

HMRC's fangs sharpened

Anyone quaking in their shoes?

[Mich the Tester]

The taxman cometh

I bet his wife doesn't though.

[shaunbhoy]

Anyone quaking in their shoes?

I expect tax-dodging lowlifes like BolshieBastard will be bricking it. Quite right too.

[Mich the Tester]

Anyway, if 'the rich' take their savings out and exchange them for gold, art, houses in Switzerland etc, wouldn't this mean the banks have less money they can lend, and the Swiss economy does quite well at the expense of the British economy?

[ChimpMaster]

Is it just me or is Osbourne starting to look more and more like our beloved Brown?

[Arturo Bassick]

It is just headline grabbing though isn't it? HMRC has just written off 27 billion due to not being fit for purpose. Those with Swiss accounts will find other places to hide their money, if they were hiding in the first place.
Govt. will continue to parade new policy aimed at those nasty rich tax dodgers.
HMRC will continue to parade their anti tax dodgers policies like IR35.
The non doms will continue to gift billions to their offshore spouses and will never be touched.

There needs to be a root and branch reform of tax policy in the UK.

[Doggy Styles]

Is it just me or is Osbourne starting to look more and more like our beloved Brown?

He's started using new liebor language...

"The Chancellor said last night: ... this Coalition Government made it a priority to go after those who don’t pay their fair share."

What is it about that language that annoys me?

[alreadypacked]

...for those who've stashed their money away

HMRC's fangs sharpened

Anyone quaking in their shoes?

I'm not sure this is going to effect anyone very much. The Swiss have lowered interest rates paid out to deposit holders in an effert to lower the CHF rate. They are going to withold some of the interest to be paid on the account and give it to the English government. They still get to keep their identity secret and their big wad of cash.

Nothing to see here

Although the identity of the account holders will remain secret, Swiss banks have agreed to collect tax on the money held and hand it over to the Treasury.

The deal will start with a one-off deduction from all accounts open at the start of last year. The tax rate applied will vary between 19 per cent and 34 per cent, depending on the circumstances.
The Swiss authorities have agreed to make an initial payment of £400 million and sources expect the deal to be worth up to £5 billion over the next few years.

[Churchill]

A Treasury source said: ‘The opportunities for tax evasion are diminishing month by month and we are determined to carry on. Switzerland is a very big step.'

Ok, what about Tax Avoidance?

[Doggy Styles]

A Treasury source said: ‘The opportunities for tax evasion are diminishing month by month and we are determined to carry on. Switzerland is a very big step.'

Ok, what about Tax Avoidance?

Shhh!

That's a labour nonsense, don't give him ideas.