Tuesday, September 27, 2016

UK Shadow chancellor puts tax reform top of policy agenda

“The UK is the most corrupt country on earth, anyone with a modicum of interest in corruption will tell you that the City of London is the biggest Laundromat of corrupt money and black money and drug money that there is.”
Alek Boyd, anti-corruption blogger, journalist and asset recovery specialist
Tax Justice Network Sept 2016 Podcast: #AppleTax, #BahamasLeaks and a conman offshore story

Shadow chancellor puts tax reform top of policy agenda

Among Labour's potential policies is an assessment of HMRC, announced earlier this month, which will involve Prem Sikka of Essex University conducting a review to see if HMRC is 'fit for purpose'.
McDonnell said this was just the first stage of a four-stage plan, with the next steps looking at the legislative base in taxation to tackle tax evasion and avoidance, exploring what a reformed HMRC would be like and looking at a possible reformed tax base.
McDonnell said it was 'quite startling' to see the level of corporate influence over HMRC.
Corbyn and McDonnell: Labour would create new tax enforcement unit at HMRC

A Labour government would beef up staff at HM Revenue Customs to crack down on “wealthy” tax avoiders and stamp out an industry in the UK that helps individuals and companies to lower their tax bills, according to shadow chancellor John McDonnell.

Speaking at the Labour party conference in Liverpool, Mr McDonnell said a Labour government would set up a new “tax enforcement” unit at HMRC, “doubling the number of staff investigating wealthy tax avoidance”. UK Jennie Granger and HMRC

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Jack Townsend, Faulty Tax Shelter Opinions and Appraisals and Resulting Civil Penalties. “As I understand it, many of these independent advisers gave roughly the following advice:  ‘No way the shelter will be sustained if contested, but at least the promoted tax professionals’ opinions will give the taxpayers a pretty good shot at avoiding the penalty.'”
Lew Taishoff, “WIN YOUR CASE BY EXCLUSION”. “Judge, I had confidence in you; I was sure you’d exclude the partitive genitive at least once.”