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Mohammed Khurshid, paid no tax on rental income - worked for HMRC lol


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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. 

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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.   

 

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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

 

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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

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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. 

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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. 

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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 by shlomo
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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.

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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. 

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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.

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