Ukraine suddenly 40% more interested in UK tax info – HMRC Cooperation between HM Revenue and Customs (HMRC) and foreign tax authorities will only increase as more countries sign up to automatic tax information exchange agreements. This is according to Pinsent Masons, the law firm behind Out-Law.com, which obtained figures showing a 45 per cent increase in the number of requests for …
Even countries that do not have a desperate need to shore up their public finances
A nice euphemism for
"The goverrrnmental pirates have wrecked everything out of sheer greed, mismanagement and cronyism and need more. Disregard the multibillion-$CURRENY debthole, that's for the future (or for foreign taxpayers via the IMF)"
As far as I can tell, you can't "buy" non-dom status. However, if you are rich enough, it is easy enough to move your main residence(s) and money to some other country, and live there most of the time; a change of domicile is then easy enough to establish (or prove).
The UK is actually full of non doms - all those (non-UK) EU people you meet in the UK will be very likely be non-doms, as well as most other foriegners. However, most are employed on salarly or wage and pay tax PAYE regardless; the only thing is that income earned overseas (that stays overseas) might not be taxable.
https://www.gov.uk/tax-foreign-income/non-domiciled-residents
From the story - "According to HMRC, 2,466 requests were made in 2013 compared to 1,701 in 2012"
So was 2012 a particularly low amount or 2013 a high amount? With only two sample points we have no idea if this is a sudden (and not neccessarily sustained) massive jump, an unusually low 2012 or the continuing trend. Perhaps even 2,466 requests is still much lower than usual.
Odd that we don't have statistics for 2014, why not wait until they are produced, at least we can see some *very* short term trend.
This is how hack journalists come up with scare stories or propaganda, pick insufficient data and make the claim that this proves something. But then I don't need to explain this to a tech site. No one here would take the writer's poor use of only two sample points as being worth anything, would they?
Tax collectors may be making more requests year on year but there's woefully insufficient evidence of that here.
What a ridiculously stupid post!
The agreement was only formalized in May of 2014. Even two data points is reaching for it.
As for the data for 2014 not being available, I find nothing unusual about that. We've only just concluded the year and it is not uncommon for government agencies to take a year or two to release such statistics let alone release them in under a quarter.
Actually the best description of today's economic climate is 10 people around a plate of 100 cookies, someone takes 95 of them, then he says to the other 9 "look that poor guy at the end is trying to steal your cookie"
Well with more high worth people moving their cash to the UK, we can look forward to 2 things
Average wages going up (actually for 99% of us wages will be static) and
House prices continue to boom upwards as the money is hidde.. sorry invested in property.
Perhaps a new moral for today should be "I dont mind paying my fair share of taxes if everyone else is forced to pay the same % "
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