{"id":10197,"date":"2011-05-27T08:28:10","date_gmt":"2011-05-27T07:28:10","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=10197"},"modified":"2011-05-27T08:28:10","modified_gmt":"2011-05-27T07:28:10","slug":"the-isle-of-man-and-jersey-create-opacity-according-to-h-m-revenue-customs","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/05\/27\/the-isle-of-man-and-jersey-create-opacity-according-to-h-m-revenue-customs\/","title":{"rendered":"The Isle of Man and Jersey create opacity – according to H M Revenue & Customs"},"content":{"rendered":"

A couple of weeks ago I presented evidence to the House of Lords\u00a0Economic\u00a0Affairs\u00a0Committee. My evidence will be published shortly. This week Dave Hartnett also gave evidence to that committee, and at least in part on the same subject: employee benefit trusts. As Accountancy Age reports:<\/a><\/p>\n

[Hartnett] told the Lords Economic Affairs\u00a0Finance<\/a> Bill Sub-Committee: \"Some of the offshore arrangements have been pretty opaque to us for some time.\"<\/p>\n

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Hartnett said: \"It is not always possible to use the exchange of information provisions under treaties and other things to expose those.\"<\/p>\n<\/div>\n<\/div>\n

The disclosure regime had done everything it could do \"but where you have promoters outside the UK - there are a number of promoters of disguised remuneration schemes in the Isle of Man, in Jersey and in other low tax jurisdictions - the disclosure regime has no bite, and that has been the difficulty\", he said.<\/p><\/blockquote>\n

So much for the claimed\u00a0transparency\u00a0of these places: that's shown to be a lie, as usual.<\/p>\n

And of course the fact that they're\u00a0secrecy jurisdictions is\u00a0confirmed. By my definition secrecy jurisdictions are places that intentionally create regulation for the primary benefit and use of those not resident in their geographical domain. That regulation is designed to undermine the legislation or regulation of another jurisdiction. To facilitate its use secrecy jurisdictions also create a deliberate, legally backed veil of secrecy that ensures that those from outside the jurisdiction making use of its regulation cannot be identified to be doing so. Unambiguously Hartnett is saying that is what\u00a0the Isle of Man, Jersey and other low tax jurisdictions are.<\/p>\n

So, let's be unambiguous, here we have the head of\u00a0H M Revenue & Customs saying the\u00a0Crown Dependencies and others are seeking to undermine the UK tax system.<\/p>\n

So let's have no more claims from such places on their well\u00a0regulated, open and\u00a0transparent systems: the blunt fact is they're being used by some in the financial services sector to undermine the UK tax system and in turn threaten\u00a0the\u00a0rule\u00a0of\u00a0law and the\u00a0operation\u00a0of the democratic mandate in the UK.\u00a0\u00a0That's what these places are about.<\/p>\n","protected":false},"excerpt":{"rendered":"

A couple of weeks ago I presented evidence to the House of Lords\u00a0Economic\u00a0Affairs\u00a0Committee. My evidence will be published shortly. This week Dave Hartnett also gave
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,107,6,7,80,10,32],"tags":[],"class_list":["post-10197","post","type-post","status-publish","format-standard","hentry","category-guernsey","category-hmrc","category-isle-of-man","category-jersey","category-secrecy-jurisdictions","category-tax-avoidance","category-tax-havens"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/10197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=10197"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/10197\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=10197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=10197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=10197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}