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Does Mr Balls
know how many referrals there have been to the "GAAR Committee" since its inception, my researches show that there have been none so far, one wonders why given the back log HMRC have of "avoidance" cases? At the same time has Mr Balls given any thought to the COP 9 procedure which is only offered in cases of suspected serious tax fraud and of course included in the offer of COP 9 is an undertaking not to prosecute if a full admission and disclosure is made of all irregularities. Politicians (on all sides) thinking on this whole issue is disjointed and ill-informed and if they want to introduce a morality and fairness test into the system then I would suggest that this would be a good place to start.
That will be own party then
Hi
They can penalise their own party then. Is abuse of tax payers money not tax abuse ? They have the nerve to try and promote Jim Murphy as the Scottish Leader. Scotland is doomed if this is their answer for the Scottish Branch. He claimed £2000 one year for his accountants to do his tax returns on expenses.
Perhaps they should look at the own party and clean up their own act first.
Politicians determining morality in tax?
I have a problem with politicians and a tax authority determining what is moral and fair. On the former, politicians are the last to make a determination.
On the latter having HMRC trying/succeeding to dodge the Courts with follower notices and with automatic penalties applied in some cases very unfairly, we are in for a torrid time.
Its politicians worldwide who have failed to allow for global corporations and in the UK with a complex tax system much diluted by vested interests and vote catching exceptions.
Now if the tax pounds were spend wisely .... but that is subjective and we can only but dream.
More sound bites..
...designed to appeal to the un-informed masses. The actual amount of penalty raised so far would be exactly £0.
Until they simplify the tax system and sort out the taxation of international transactions and corporations, penalising people twice for getting it wrong is the wrong way to go about it.
There are already a raft of penalties available where people get it wrong, as well as interest on underpaid tax, etc.
We already have the 'pay the tax we think you might owe' system for tax schemes whereby you are guilty and must pay before they even establish whether the scheme worked or not, now Balls wants to grab a handline by appearing to be 'tough' on the 'rich' who 'abuse' the system. Shame we can't prosecute those who put the country in such a state in the first place...