Non-disclosure is criminal
November 4th, 2009
Dave Hartnett, boss of HM Revenue & Customs on those criminals who do not disclose offshore bank accounts.
About 50% of UK personal account holders in Jersey and Guernsey do not voluntary directly disclose their earnings to HM Revenue & Customs.
It’s a blunt message to all those who live in tax havens who like to think that nothing illegal happens there. Let me assure them: it does.
“About 50% of UK personal account holders in Jersey and Guernsey do not voluntary directly disclose their earnings to HM Revenue & Customs”.
Another “make believe” figure pulled from the clouds Richard. It is no wonder they said on the radio this morning that the TJN is not an organisation of massive importance.
Matt
Not make believe
Actually both come from bank insiders in Jersey & Guernsey
Richard
“criminals who do not disclose offshore bank accounts” - Isn’t the disclosure regime in respect of offshore income and unpaid liabilities?
Seems like dumbed down reporting to me.
P.S. How would the “bank insiders” know (or even suspect) that this applied to 50% of customers?
John
Tax evasion is a criminal act
Banks know how many do not disclose under the European Union Savings Tax Directive
The vast majority of them will be tax evading. There is no other reason not to disclose
Richard
Richard,
Thanks for your clarification.
I agree with your comments about tax evasion (of course)- I dont understand your analysis though - if there is “no other reason not to disclose” then surely ALL of the will be tax evading not the “vast majority” - could you please clarify?
You didnt address the first part of my question.
I don’t know what happens in Guernsey and Jersey, but the Isle of Man are committed to automatic exchange http://www.gov.im/lib/news/investiniom/isleofmanannounc.xml - from 1st July 2011 it is intended that there will be no ability to withhold and banks will disclose.
The Isle of Man is leading the way here in being the first of the “international business centres” to commit to implementing this.
Credit where its due, please.
Why dont you just admit for once that you make these figures up? It is just like the £20 Billion lost in total. I know you probably cannot stand my comments but accuracy would make a change with ‘proper’ back up.
I work in a Jersey bank and there is no way your accusations are remotely near the knuckle.