Tax Avoidance/Evasion

Posted 06/11/2008 - 18:18 by leno

I am concerned that a view is being put forward that people who have an offshore bank account are trying to avoid paying UK tax.This morning's BBC Money Box programme alluded to this. I, and I imagine most depositors in the old Derbyshire IOM accounts, declared the interest and paid the tax. It is ironic that we, as UK taxpayers, are funding the bail-out of Kaupthing Edge and Icesave (and have even contributed to Gordon Brown's loan of £100 million to Iceland) but can see no benfit from our contributions. Another view is that we were being greedy and taking risks, and that we deserve our come-uppance. Again, I would think that the depositors in the old Derbyshire were, like me, investing in a safe and steady base rate tracker account, not greedy or reckless. It is important to get this home to MPs; the women MP on Money Box (I didn't catch her name) implied that we were both reckless and greedy.

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