K2 tax avoidance scheme how it works

Posted by winston wambua Karumba at 02: In that case the tax people would get the Treasury to change the law, but the scheme's users would get away scot free until such an order was made.

How the K2 tax avoidance scheme works

This is how the K2 tax avoidance scheme works. Finally, there are proposals for penalties on the enablers of tax avoidance, which are likely to be reintroduced in the Finance Bill published after the election on 8 June 2017.

Some investors are understood to have taken the matter to a tax tribunal. They denied any wrongdoing.

k2 tax avoidance scheme how it works

Please refresh the page and retry. A tax avoidance scheme alleged to be used by thousands of wealthy individuals, including the comedian Jimmy Carr , is under investigation by authorities. Your current browser is not capable of using this site without JavaScript.

Make informed decisions with the FT.

No comments: If anything the case of Jimmy Carr and K2 has highlighted that the UK has another two faced government. A small amount of that is received as salary and the rest as a loan, which, because it can technically be recalled, does not incur tax. The phrase the wrong thing clearly implies dishonest behaviour that should be prevented or penalised.

There are also concerns over just who could be embroiled in any investigation. Topics Tax avoidance.

k2 tax avoidance scheme how it works

A spokesman for HMRC said: Britain, in contrast, charges top earners 50 per cent, although this will fall to 45 per cent next April. Tax evasion is the illegal thing.

Tax avoidance scheme used by Jimmy Carr investigated by HMRC

We've noticed you're adblocking. Post a Comment.

k2 tax avoidance scheme how it works

If you want to come down hard on the offshores as the UK government seems to want to do then they need to look at exactly WHO has offshore dealings and even more importantly WHY they are looking offshore.

Last Name. An HMRC spokesperson said: Ignoring the fact that the scheme is a completely legal tax arrangement, politicians are instead relying upon emotive phrases such as morally wrong to stir up public indignation.

UK Contractor Services.

How HMRC is fighting back against tax avoidance schemes

All posts are moderated and must obey the house rules. The scheme is understood to work by UK earners "quitting" their job and signing new employment contracts with offshore shell companies.

k2 tax avoidance scheme how it works

Tax avoidance is not illegal, some see it as morally suspect but nobody can say it is illegal.