The Times has said today:<\/p>\n
H M Revenue & Customs believes that\u00a0personal\u00a0tax avoidance costs the economy $4.5 billion a year. The\u00a0exposure\u00a0of the\u00a0Liberty\u00a0tax scheme suggests this may be a gross underestimation.<\/p>\n
By exploiting a loophole in offshore dividend rules Liberty\u00a0allowed\u00a02,000 investors to shelter \u00a31.2 billion over four years.<\/p>\n
If the\u00a0Treasury\u00a0is right that means a single\u00a0scheme\u00a0costs\u00a0the\u00a0economy\u00a0about 2p out of\u00a0every\u00a0single \u00a31\u00a0lost\u00a0to tax avoidance. More likely is that the true figure is higher and that Liberty is just one of many offshore tax schemes\u00a0flourishing\u00a0anonymously\u00a0in tax havens such as Jersey or the Cayman Islands.<\/p><\/blockquote>\n
Thank you:\u00a0I've said so for a long time and I remain quite convinced I'm right.<\/p>\n
The question is why do HMRC ignore the truth - about which more, later.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Times has said today: H M Revenue & Customs believes that\u00a0personal\u00a0tax avoidance costs the economy $4.5 billion a year. The\u00a0exposure\u00a0of the\u00a0Liberty\u00a0tax scheme suggests this
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":[107,10,50],"tags":[],"class_list":["post-17633","post","type-post","status-publish","format-standard","hentry","category-hmrc","category-tax-avoidance","category-tax-gap"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/17633","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=17633"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/17633\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=17633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=17633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=17633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}