HMRC claw back £500 million in tax from Barclays
28-02-2012, 06:27
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#1
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HMRC claw back £500 million in tax from Barclays
Result - HMRC appear to have grown a pair.
Barclays alerted HMRC about two tax avoidance* schemes it was using, and HMRC said 'No', and very unusually (but rightly, IMHO), made the ruling retro-active.
BBC
*avoidance is legal, evasion isn't....
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28-02-2012, 06:45
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#2
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Re: HMRC claw back £500 million in tax from Barclays
Is this just a token gesture though? To show they're doing something rather than nothing, especially regarding all the bonuses which will be paid out in future?
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28-02-2012, 07:25
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#3
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Re: HMRC claw back £500 million in tax from Barclays
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A Treasury source suggested that outlawing the tax dodges immediately would save the government a further £2bn in tax that would otherwise have been foregone
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Helluva token gesture... 
Hopefully, the first of many.
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28-02-2012, 07:42
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#4
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Re: HMRC claw back £500 million in tax from Barclays
I meant perhaps this is a cover story where the government has said to the banks "ok keep your bonuses but we need to take cash from you somehow, preferably in a which makes us look good".
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28-02-2012, 09:35
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#5
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Re: HMRC claw back £500 million in tax from Barclays
HMRC still have a lot ofm work to do, hundred of billions are still not returned to the government!!!
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28-02-2012, 09:38
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#6
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Re: HMRC claw back £500 million in tax from Barclays
Now if only HMRC can get retroactive about Vodafone and others being let off paying their taxes and VAT avoidance.. 
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28-02-2012, 10:12
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#7
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Re: HMRC claw back £500 million in tax from Barclays
Let's hope they don't get too retroactive and start clawing back our 'avoided' personal taxes eh?
I'm all for closing genuine loopholes but retrospective action could open a whole can of worms, especially where the companies concerned have strong overseas operations and powerful shareholders who might prefer their UK operations were relocated overseas to reduce their overall tax exposure.
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Last edited by Osem; 28-02-2012 at 10:18.
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28-02-2012, 10:25
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Re: HMRC claw back £500 million in tax from Barclays
Quote:
Originally Posted by Osem
Let's hope they don't get too retroactive and start clawing back our 'avoided' personal taxes eh? |
 When does my bank in Kiribati open?
It makes a good headline but the cosy cartell that is banking will just hit us users with more stealth charge to make up the shortfall. Whilst it would be entertaining to see fat bankers stripped (to the waist) and flogged round the city mile the reality is that there'll be no serious changes to business as usual.
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Last edited by heero_yuy; 28-02-2012 at 10:26.
Reason: Fixed quote
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28-02-2012, 11:26
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#9
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Re: HMRC claw back £500 million in tax from Barclays
Quote:
Originally Posted by Osem
Let's hope they don't get too retroactive and start clawing back our 'avoided' personal taxes eh?
I'm all for closing genuine loopholes but retrospective action could open a whole can of worms, especially where the companies concerned have strong overseas operations and powerful shareholders who might prefer their UK operations were relocated overseas to reduce their overall tax exposure. |
Any nation that would accept them will face Sanctions!!
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28-02-2012, 12:28
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#10
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Quote:
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Originally Posted by Alan Fry:35389859
Quote:
Originally Posted by Osem
Let's hope they don't get too retroactive and start clawing back our 'avoided' personal taxes eh?
I'm all for closing genuine loopholes but retrospective action could open a whole can of worms, especially where the companies concerned have strong overseas operations and powerful shareholders who might prefer their UK operations were relocated overseas to reduce their overall tax exposure. |
Any nation that would accept them will face Sanctions!! |
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Now you are being ridiculous. Again.
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28-02-2012, 12:56
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#11
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Re: HMRC claw back £500 million in tax from Barclays
Quote:
Originally Posted by Alan Fry
Any nation that would accept them will face Sanctions!!
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"Sanctions!!"
What sort of "Sanctions!!", and from whom?
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28-02-2012, 12:57
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#12
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Re: HMRC claw back £500 million in tax from Barclays
Quote:
Originally Posted by Hugh
"Sanctions!!"
What sort of "Sanctions!!", and from whom?
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From the West (all of which have problems of Tax Evasion), they would be similar like Iran, i.e. a Economic boycott!
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28-02-2012, 13:54
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#13
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Re: HMRC claw back £500 million in tax from Barclays
They'll claw it back form bank charges etc.
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28-02-2012, 14:10
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#14
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Re: HMRC claw back £500 million in tax from Barclays
Quote:
Originally Posted by Alan Fry
Any nation that would accept them will face Sanctions!!
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You do realise you have written that sentance as if you are the man in charge and has just issued a new decree 
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28-02-2012, 14:12
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#15
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Re: HMRC claw back £500 million in tax from Barclays
Quote:
Originally Posted by martyh
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That is the point, We ned to take action on Tax Evader in times like these!
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