In my case I have an off-planet account with the First Universal Bank of Mars, having set up a business there a few years ago. No more IR, CSA or other worries, which is nice.
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Previously on "Time to move your money from overseas accounts"
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Anyone hiding money from the UK (or european) tax man in an offshore account with a British (or European) Bank inside Europe was/is pretty much asking to get done sooner or later, thats been a fact of life since Gib. opened up their accounts about 10 years ago to the UK tax man
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Its in the link posted at the bottom of the second page by ASB
Mailman
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Originally posted by milanbenesLone Gunman,
u r a plonker.
Milan.
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Originally posted by ASBI used to hold a couple of offshore accounts whilst resident in the UK and permanently working in Europe. Again everything declared etc. However when investigated in '95 the inspector got very excited. Despite the fact that I simply handed over all details when asked for details of all accounts. If it was not for this I think that the investigation would have been concluded in much less that 3 years.
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Originally posted by The Lone GunmanYou seem to have the same mentality is HMG or Hector, something you need to tell us? Offshore accounts are not only the domain of crooks and tax avoiders, there are a number of reasons for wanting/needing them.
I Have worked all over Europe, well Germany and Belgium. Getting money to and from the UK can work out expensive with transfer charges and the different exchange rates depending if you are buying or selling. I invoice in euros, my management company is in Denmark. They pay me a local amount in country and the rest goes offshore but it is all declared. I have an offshore Euro account and an offshore GBP account with the same bank whith whom I also have an onshore UK account. I pay no charges with transfers between these accounts and get the same exchange rate based on the days rate so pay no costs there either. It only saves a few quid per transaction but it saves and when I change countries I dont have any hassles paying deposits for flats and stuff.
Others may do it differently but this method works for me.
I used to hold a couple of offshore accounts whilst resident in the UK and permanently working in Europe. Again everything declared etc. However when investigated in '95 the inspector got very excited. Despite the fact that I simply handed over all details when asked for details of all accounts. If it was not for this I think that the investigation would have been concluded in much less that 3 years.
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Originally posted by MailmanSo who are special commissioners employed by mohio?
Mailman
Anyway it's the department of constitutional affairs.
http://www.financeandtaxtribunals.go..._scit_new1.pdf
You might be surprised at just how may cases the IR lose at the specials.
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Originally posted by AntmanLone Gunman
If you´re not hiding money and declaring everything what is the point of an offshore account especially as a UK resident?
I Have worked all over Europe, well Germany and Belgium. Getting money to and from the UK can work out expensive with transfer charges and the different exchange rates depending if you are buying or selling. I invoice in euros, my management company is in Denmark. They pay me a local amount in country and the rest goes offshore but it is all declared. I have an offshore Euro account and an offshore GBP account with the same bank whith whom I also have an onshore UK account. I pay no charges with transfers between these accounts and get the same exchange rate based on the days rate so pay no costs there either. It only saves a few quid per transaction but it saves and when I change countries I dont have any hassles paying deposits for flats and stuff.
Others may do it differently but this method works for me.
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Lone Gunman
If you´re not hiding money and declaring everything what is the point of an offshore account especially as a UK resident?
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Originally posted by ASBNo you didn't get it right.
Mailman
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All banks in the EU zone will have signed up to this rule (cant remember its name) by 2010 that includes Switzerland. Luxemburg banks have said they will not do so untill the final date. Banks outside the zone can not be touched so Virgin and Caymens look good.
Within the zone most of the banks (including mine) will not disclose if you can prove you are not tax resident in the enquiring country.
All my offshore money is tax paid and I declare the interest so I dont see what the problem is.
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Google
Originally posted by jeneverOh dear.
In fact (as it says in the article) the European Savings Directive already means withholding tax is deducted.
Does anyone know of an offshore account which is still anonymous - it's just that a mate was interested ....
Suggest you look them up on Google, preferably from your work. Typing something like "offshore tax avoidance" should do the trick.
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