Tax evasion is going on, that’s a fact - unless anyone wants to doubt the decisions of juries who have reached guilty verdicts in numerous trials.
Figures for levels of tax evaded will always be speculative -
because the only time it’s recorded is when it’s detected.

Whether or not companies in Guernsey and Jersey are deliberately
allowing their customers to evade tax may be open to debate.
However, based on reports of the numbers of disclosures from
the Off-Shore disclosure team alone, quite some numbers of people,
and a fair proportion of them use accounts in the Channel Islands,
have not accounted for the tax they should have. That’s evasion.

In most of these cases, accountancy or banking professionals woukld
have helped with the setting up of these accounts, and the transfer of
funds into them. Now either these professionals genuinely had no
idea that they were helping to facilitate fraud, in which case I personally
can’t help but think that at the very least their client acceptance procedures amounted to little more than box ticking excercises and they were being somewhat negligent, or incompetent, or they knew that there was cause to be suspicious of the source of the funds, or the reasons for transferring it off shore, and did nothing about it.

It’d be interesting to know how many of the banks mentioned by JTM as closing accounts reported those accounts accordingly.

I also know for myself from contact with banks is that a few accounts have been closed over the years where the bank has not been satisfied with the clients apparently lack of disclosure.

So this is happening.

But I think you are in the dark here and will remain so, because until such authority is willing to answer your questions / allegations then that will be the case. Up to now though, they have been dismissed, so I think that is that.

I have argued 45,000 STRs should have been submitted

So far the evidence is 400 have been

That makes it easy to suggest those who have not submitted STRs but who should have done in my opinion

Let’s start with Barclays, Lloyds TSB, HBOS, Royal Bank of Scotland and HSBC. None of them can have reported as I think appropriate as a consequnce of the EU STD. All will have had customers who have said they do not wish to disclose details of interest paid to their home tax authorities. All should have reported that fact to money laundering authorities on the basis of this providing a reasonable basis for suspiscion of money laundering of tax evaded funds in my opinion.

All will certainly have held evaded money now declared under the UK tax amnesty

By not reporting reasonable suspiscion all these banks will by implication have helped people evade tax in my opinion

They might of course disagree, but I am asking for reason why and you have failed to supply it. Since failure to report is an offence if I can demonstrate, as I have, that reasonable grounds for suspiscion exist the onus is entirely on you to prove me wrong now

Richard

If you believe you can identify just ‘one’ firm in Jersey or Guernsey which is deliberately allowing customers to evade tax then people may start to take these claims seriously.

Otherwise, it is just gossip mate, and we can only move towards a stalemate.

So you’re clean

What about all the rest?

And how come if you’re all clean so much tax has been declared under the UK tax amnesty?

Your argument is obviously false.

Richard

Therefore if people are avoiding tax illegally from their place of domicile and not telling us, then it is they that are breaking the law. But to refer to all the funds held in Jersey as ALL tax EVASION is a ridiculous assumption!

Therefore if people are avoiding tax illegally from their place of domicile and not telling us, then it is they that are breaking the law. But to refer to all the funds held in Jersey as ALL tax avoidance is a ridiculous assumption.

Sullivan said:

At the end of 2006, there were $491.6 billion of assets in the Jersey financial sector beneficially owned by non-Jersey individuals who were likely to be illegally avoiding tax on those assets in their home jurisdictions. Rapid growth of bank deposits and mutual funds shares in the first half of 2007 easily pushes the total above $500 billion.

Note the word “illegally”

That means tax evasion

As ever, the Jersey financial services industry is seeking to make excuses for its illegal conduct

You have not answered my challenge.

I, and the rest of the world, remain convinced that the financial services industry in the Crown Dependencies is party to massive taxation fraud

And so far you have not been able to offer anything in your defence

Until you do further comments from you on this issue will be ignored as they are not adding to debate

Richard

I have met multi-millionaires in Jersey who got away from the UK because of heavy taxes in the 70s. 98p in the £1.00 I heard. Now that is the fault of fiscal policy in the UK. As for all the non-doms that buy up property in the UK, especially London now, Russian business men I understand, are they avoiding tax to?

The only people that come to conclusions like this should start attacking fiscal policy in their own countries and then they will understand why money goes out of their countries. There is a balance and besides, we have very little business from the UK anyway.