oh goody more advertising about tax evoidance

[vetran]

BBC News - HMRC targets tax evaders with offshore accounts

I assume that the Cabinet & Opposition will be targeted?

[doodab]

BBC News - HMRC targets tax evaders with offshore accounts

I assume that the Cabinet & Opposition will be targeted?

I did think when I read that "hang on, don't half the cabinet have family trusts set up offshore?"

Let's see them race to set a good example shall we...

[Mich the Tester]

"Ultimately, this is about fairness," Mr Osborne told Australia's ABC TV.

Yes of course Mr Osborne, because it's really fair to tax people on assets they've built up using income that's already been taxed.

[MicrosoftBob]

I wonder if they will target Mapeley Steps or The Guardian ?

[AtW]

Yes of course Mr Osborne, because it's really fair to tax people on assets they've built up using income that's already been taxed.

If that income was actually taxed then why was it kept offshore?

[Mich the Tester]

If that income was actually taxed then why was it kept offshore?

To avoid paying tax on interest?

[doodab]

To avoid paying tax on interest?

Not taxing interest as income benefits the already wealthy while punishing those who work.

[AtW]

To avoid paying tax on interest?

And why should that tax get avoided (evaded even in this case) if it's due for UK residents on their worldwide income?

There is only one valid reason to have an offshore bank acount - if you are actually resident there.

[doodab]

There is only one valid reason to have an offshore bank acount - if you are actually resident there.

There are loads of reasons for having foreign bank accounts. One might do business there, or own property there, or be tax resident there as well as here. Even if one just visits somewhere frequently it can make sense to have a local bank account when charges and so on are taken into account.

[SpontaneousOrder]

Not taxing interest as income benefits the already wealthy while punishing those who work.

What does that mean?