IT Consultant in tax fraud case

[BlasterBates]

I just read up briefly about Rangers FC, looks like that was also tax evasion, according to the reports I've been reading. i.e. it wasn't really a loan. Certainly they're being charged penalties. If that's the case I would be very very wary indeed of an EBT scheme.

[LisaContractorUmbrella]

More info here chaps High earner operated decade-long tax scam - Dumfries and Galloway Standard Seems as though this was actual evasion

[northernladuk]

"The tax system depends on people being honest but Maxwell consistently tried to conceal his income."

They are hardly encouring that when they constantly blur the distinction between avoidance and evasion.

I could agree with this to some extent in some cases but looking at the short paragraph that mentions a summary of his actions it doesn't look like this is someone using systems in good faith and being caught by a blur IMO. Would like to see the full transcript out of interest but there seems to be consistent and sustained attempt to evade tax here. Obviously this is on the HMRC site so has a reporting bias to it though.....

Between 1999 and 2008 Maxwell worked as an IT consultant for City of London banks. Fees were paid to companies - of which he was a hidden beneficiary - registered in Gibraltar and the Isle of Man. From 2005 the income was paid to a UK registered company which never made any tax returns.

[JamJarST]

What is not clear to me from that is how much of the evasion was due to using an offshore solution and how much was due to not declaring any income in the UK company.

[Sockpuppet]

Bet he's wishing he just went brolly now isn't he.

[northernladuk]

Plus 13 years interest, plus potentially 100% penalty. I'd be stunned if the final bill was less than a million.

And more so if the Exchequer will see any of it...

[DonkeyRhubarb]

"The tax system depends on people being honest but Maxwell consistently tried to conceal his income."

They are hardly encouring that when they constantly blur the distinction between avoidance and evasion.

[deckster]

Isn't his bill £635,015 as detailed at the bottom?

Plus 13 years interest, plus potentially 100% penalty. I'd be stunned if the final bill was less than a million.

[northernladuk]

A "scheme" that worked perfectly well for 10 years.

So he's going to have bill of somewhere between £1 mill and £2 mill and presumably a few months in the "clink".

Effectively after a long career in IT he'll be worse off than he was before he started.

Well he isn't the only one.

Isn't his bill £635,015 as detailed at the bottom?

2. During the period 06 April 1999 - 05 April 2008 the total loss to the exchequer was £635,015

[BlasterBates]

A "scheme" that worked perfectly well for 10 years.

So he's going to have bill of somewhere between £1 mill and £2 mill and presumably a few months in the "clink".

Effectively after a long career in IT he'll be worse off than he was before he started.

Well he isn't the only one.

[LisaContractorUmbrella]

News : NDS