My ksfiom account isn't hdden or tax free it is EU Tax paid!

  • Melody2maker
  • 10/10/08 31/05/09
  • unspecified
  • Offline
Posted: Thu, 06/11/2008 - 19:54

What is all this talk about tax haven, tax avoidance and choosing to set up an account in the Isle of Man rather than in the UK as if it was some method of tax dodging and a way of hiding money.

Firstly, I pay EU tax on my account at an ever increasing rate, 35% next year I believe, even though i don't have enough income to be taxed at the 35% rate anywhere in the western world. I bank in the IOM as it is or rather was a reputable banking center geographically next to the country of my birth, the UK.

Secondly I am not hiding my money I am being forced by the UK banking regulations to make use of places like the IOM, since I am non UK resident, even though I am living in the EU.

I am aware that a large number of offshore people keep their old onshore UK accounts open in such places as banks and building societies even though they are no longer UK resident, some even fraudulently stay registered with their UK doctor though they haven't lived at the address they have given him for years, Surely this is all illegal!

We who follow the law and have opened an account "offshore" are now being punished by the UK government by them "removing" our KSFIOM money to the UK to pay out the "onshore" crowd who claim we are all a bunch of tax dodgers. The onshore crowd includes the misinformed Mr Darling I believe.

PLEASE EVERYBODY ONSHORE, INCLUDING PEOPLE WHO SHOULD KNOW BETTER, GET RID OF THIS OLD IDEA THAT BANKING IN THE IOM OR IN OTHER EU REGULATED OFFSHORE AREAS IS AN ATTEMPT TO AVOID TAX AND HIDE MONEY, IT MIGHT HAVE BEEN YEARS AGO BUT NOT ANY MORE.

Melody Maker

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