HMRC denies campaign against high earners
HM Revenue and Customs has today denied suggestions of a concerted campaign of attack against high earners in the UK, and those with connections to the UK. Over the last few days we have seen a number of high-profile court rulings allowing the UK government to issue backdated tax demands for those living in the UK with overseas earnings, and some who had believed they were non-residents and not liable for UK tax.
Indeed yesterday we saw a high-profile court case against a former UK resident who has lived in the Seychelles since the 1970s with judges ruling that while he may have abided by the letter of the law regarding connections with the UK he was still liable to back tax. It is estimated that the gentleman in question is likely to be hit with a multi-million pound tax demand with potentially thousands more in the same situation.
It is unclear exactly what has prompted this concerted effort to clean up the UK taxation system, and seemly attack high earners, but one thing is for sure it is proving very lucrative for the UK government with hundreds of millions of pounds (if not billions of pounds) expected to be collected in due course.
Share this..
Related stories
Tax has gone up by 50% under Labour
A report by the Taxpayers Alliance has laid bare the economic prowess of Gordon Brown and shows that tax under the Labour government has increased by 50% since they were elected. The basic figures show that in 1997/98 when the government was elected the tax take was £293.8 billion but it has risen to a massive £517.1 billion for the 2007/08 tax year - a rise of more than 50% in 10 years!
...
Alistair Darling refuses to cut government budget
Leaked documents today reveal that Alistair Darling, while under growing pressure to cut the UK budget deficit, is likely to actually invest more money into the UK economy with rumours that a new "green bank" will be created to assist businesses and investment in public sector projects. Details of the new bank are fairly sketchy at the moment although there is concern that the UK government may we...
Read MoreScottish Executive announces a £95 million investment for jobs
As we approach the next UK budget, on 22 April, it is rumoured that up to £1 billion will be slashed from the Scottish executive budget under the guise of "efficiency savings". In a move to combat the potential issue of a £1 billion reduction in the Scottish budget, the ruling SNP party has today announced a £95 million investment into the jobs arena which they believe will help Scotland bounce...
Read MoreCouncils looking to reduce workforce
It has been revealed that councils up and down the UK are looking to reduce their workforce by up to 170,000 in what will be the biggest reduction in local council spending for many years. While there has been little public comment from councils, privately they expect budget reductions in the region of 15% over the next three years as the UK government looks to tackle the budget deficit. Despit...
Read MoreHas David Cameron gone step too far with this child benefit changes?
David Cameron is this evening under intense pressure to revisit yesterday's announcement from George Osbourne regarding the reduction of child benefits for some people in the UK. Despite the fact that the Conservative party has put itself forward as the party for families in the UK it seems that where one parent earns in excess of £44,000 a year they will be relieved of child benefit. However, bi...
Read More