There will be dancing in the UK’s tax havens this Christmas

Posted on

This comes from the government's analysis of its Brexit deal, leaked this morning to Guido Fawkes (quite deliberately, I am sure):

There will be much celebrating in the UK's tax havens, and in the City of London at this news.

I cannot possibly count the hours I spent helping ensure that the UK's Crown Dependencies of Jersey, Guernsey and the Isle of Man, in particular, complied with the EU Code of Conduct on Business Taxation between about 2004 and 2010. And I won, to be candid. Their tax laws were radically changed as a result of the campaigns I worked on then. Their planned ways to avoid the obligations of this Code were defeated, in a word.

And now the Code will no longer apply. And so they can reimpose the artificial ring fences that favour non-resident taxpayers and so recreate full tax haven status again.

Will the new deal the UK has proposed be good enough? I very much doubt it.

This is not a Christmas present that I wanted.


Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here: