Gribble Posted December 22, 2020 Report Share Posted December 22, 2020 https://www.halifaxcourier.co.uk/news/crime/former-hm-revenue-and-customs-employee-halifax-ordered-repay-stolen-tax-or-face-jail-3076042 Quote Link to post Share on other sites
MerchantNavy Posted December 22, 2020 Report Share Posted December 22, 2020 He clearly knew what he was doing. Seize his properties and sell then off to recoup costs + extra. Quote Link to post Share on other sites
shlomo Posted December 22, 2020 Report Share Posted December 22, 2020 He clearly knew what he was doing. Seize his properties and sell then off to recoup costs + extra. Not going to happen or they would have to do it everyone. Quote Link to post Share on other sites
reddog Posted December 22, 2020 Report Share Posted December 22, 2020 I would have thought "data mining" would make it relatively easy to track people not paying tax. But do HMRC do such a thing? Quote Link to post Share on other sites
shlomo Posted December 22, 2020 Report Share Posted December 22, 2020 I would have thought "data mining" would make it relatively easy to track people not paying tax. But do HMRC do such a thing? https://www.independent.co.uk/news/business/uk-government-debt-borrwing-coronavirus-lockdown-b1777589.html UK government debt hits £2.1 trillion after record borrowing during second lockdown We need every penny Quote Link to post Share on other sites
househunter123 Posted December 22, 2020 Report Share Posted December 22, 2020 I suspect one of his 'friends' grassed him up. Quote Link to post Share on other sites
Insane Posted December 23, 2020 Report Share Posted December 23, 2020 Not going to happen or they would have to do it everyone. Well in the article they did say there was a confiscation hearing , so something is happening. Quote Link to post Share on other sites
markyh Posted December 23, 2020 Report Share Posted December 23, 2020 https://www.halifaxcourier.co.uk/news/crime/former-hm-revenue-and-customs-employee-halifax-ordered-repay-stolen-tax-or-face-jail-3076042 I would say don't have it and do the 9 months time for £220k, That's £24.5k a month for swanning about in some white collar open prison. Assuming after that it's over and done with and HMRC fook off. Quote Link to post Share on other sites
ForGreatLager... Posted December 23, 2020 Report Share Posted December 23, 2020 (edited) I would say don't have it and do the 9 months time for £220k, That's £24.5k a month for swanning about in some white collar open prison. Assuming after that it's over and done with and HMRC fook off. Whether that’s a good idea or not depends on how pretty he is. Edited December 23, 2020 by ForGreatLager... Quote Link to post Share on other sites
Confusion of VIs Posted December 23, 2020 Report Share Posted December 23, 2020 I would say don't have it and do the 9 months time for £220k, That's £24.5k a month for swanning about in some white collar open prison. Assuming after that it's over and done with and HMRC fook off. You still owe the money, when you come out. Also when you do you will find any possessions you had will have been auctioned off while you were inside. Then anything you earn over basic living costs can be taken off you. Have a lifestyle that doesn't equate with the pittance you are allowed to live on and you will be back in front on a judge who can send you back to jail if you don't disclose where the funds come from. Quote Link to post Share on other sites
spacedin Posted December 23, 2020 Report Share Posted December 23, 2020 Am I missing something here? Has he actually been fined anything? Quote Link to post Share on other sites
Freki Posted December 23, 2020 Report Share Posted December 23, 2020 The court judgment happened in 2017... Khurshid of Victoria Road admitted cheating the public revenue and was sentenced to nine months in prison, suspended for two years, at Bradford Crown Court in May 2017. But the article was updated Tuesday, 22nd December 2020, 12:04 pm Quote Link to post Share on other sites
shlomo Posted December 23, 2020 Report Share Posted December 23, 2020 The court judgment happened in 2017... Khurshid of Victoria Road admitted cheating the public revenue and was sentenced to nine months in prison, suspended for two years, at Bradford Crown Court in May 2017. But the article was updated Tuesday, 22nd December 2020, 12:04 pm Strange if this is from 2017 why is it current news Quote Link to post Share on other sites
markyh Posted December 23, 2020 Report Share Posted December 23, 2020 You still owe the money, when you come out. Also when you do you will find any possessions you had will have been auctioned off while you were inside. Then anything you earn over basic living costs can be taken off you. Have a lifestyle that doesn't equate with the pittance you are allowed to live on and you will be back in front on a judge who can send you back to jail if you don't disclose where the funds come from. No idea, i would listen to my brief's advice. But this is why in the future, if i have a six figure crypto CGT bill rather than try and evade it i am legally leaving the uk for 5 years to Portugal or Singapore, as a tax resident, where there is zero CGT on Bitcoin, and will repatriate myself with my money after the 5 year rule time is up. Make it 5% , i will just pay it. Quote Link to post Share on other sites
captainb Posted December 23, 2020 Report Share Posted December 23, 2020 Am I missing something here? Has he actually been fined anything? Nope. That's the remarkable thing. He has to pay back the lost revenue as they caught him. As the detection, investigation, prosecution rate is not 100%.. erm.. More like 5% if you are being generous.. Its Logically (morals aside) worthwhile avoiding all you can, 95% chance you get away with it. 5% chance you pay back what you would have paid anyway. Quote Link to post Share on other sites
Saving For a Space Ship Posted December 23, 2020 Report Share Posted December 23, 2020 Strange if this is from 2017 why is it current news The court & HMRC were waiting 3 yrs for house prices to go up 🙂 Quote Link to post Share on other sites
shlomo Posted December 23, 2020 Report Share Posted December 23, 2020 (edited) The court & HMRC were waiting 3 yrs for house prices to go up 🙂 and in other news in the Halifax Courier https://www.halifaxcourier.co.uk/news/crime/former-halifax-journalist-gives-shocking-recall-netflixs-new-yorkshire-ripper-documentary-3073304?itm_source=parsely-api Former Halifax journalist gives 'shocking' recall on Netflix's new Yorkshire Ripper documentary A former Halifax Courier journalist has recalled her time on the newspaper during the late 1970s when the Yorkshire Ripper was at large. Edited December 23, 2020 by shlomo Quote Link to post Share on other sites
reddog Posted December 23, 2020 Report Share Posted December 23, 2020 https://www.independent.co.uk/news/business/uk-government-debt-borrwing-coronavirus-lockdown-b1777589.html UK government debt hits £2.1 trillion after record borrowing during second lockdown We need every penny Indeed, that was my point, surely HMRC could just go through there old data to pick up fraud? Quote Link to post Share on other sites
shlomo Posted December 23, 2020 Report Share Posted December 23, 2020 Indeed, that was my point, surely HMRC could just go through there old data to pick up fraud? Because most people who commit fraud spend the money. Quote Link to post Share on other sites
reddog Posted December 23, 2020 Report Share Posted December 23, 2020 Because most people who commit fraud spend the money. Force them to sell their assets, particularly relevant for landlords. Quote Link to post Share on other sites
shlomo Posted December 23, 2020 Report Share Posted December 23, 2020 Force them to sell their assets, particularly relevant for landlords. This is HPC so landlords do crop up a lot in conversations i am not sure that they are more fraudulent than other groups, and most landlords i have come across only own one or two properties so the numbers involved are not that huge. Quote Link to post Share on other sites
shlomo Posted December 23, 2020 Report Share Posted December 23, 2020 I suspect one of his 'friends' grassed him up. Quote Link to post Share on other sites
Confusion of VIs Posted December 23, 2020 Report Share Posted December 23, 2020 No idea, i would listen to my brief's advice. But this is why in the future, if i have a six figure crypto CGT bill rather than try and evade it i am legally leaving the uk for 5 years to Portugal or Singapore, as a tax resident, where there is zero CGT on Bitcoin, and will repatriate myself with my money after the 5 year rule time is up. Make it 5% , i will just pay it. Would it be worth the hassle? For low 6 figures by the time you have paid all the associated costs and your accountancy/legal fees you would be losing money. If its high six figure bill why not just pay the tax and enjoy your 7 figure profit. Quote Link to post Share on other sites
Confusion of VIs Posted December 23, 2020 Report Share Posted December 23, 2020 Indeed, that was my point, surely HMRC could just go through there old data to pick up fraud? They do but prioritise their investigations according to the likelihood of recovering a significant amount of money. Quote Link to post Share on other sites
markyh Posted December 23, 2020 Report Share Posted December 23, 2020 Would it be worth the hassle? For low 6 figures by the time you have paid all the associated costs and your accountancy/legal fees you would be losing money. If its high six figure bill why not just pay the tax and enjoy your 7 figure profit. I dont know what world you live in but i am not willing to give possibly give HMRC £400k in CGT, when i can move abroad for five years for much less. That is a 2 bed property bought outright, which should retain it's value over 5 years, a moderate BEV (VW ID3 Will do me for 5 years) and £2k pcm living / fun costs, plus some extra for frequent flights. Easily do able for 5 years. Sure if it's just £100k or less CGT bill it's not worth the effort. But i somehow doubt from March the max CGT will be 20% anymore, pretty sure it's going to 40% with only £3k p/a tax free relief. We shall see what Sunak does between 2021 and 2025, unlikely to be an issue until 2025. Quote Link to post Share on other sites
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