Beardo Posted May 4, 2010 Report Share Posted May 4, 2010 Anybody who advises a friend to take out an Isa or gives them a similar tax-saving tip risks a £5,000 fine, experts warned yesterday. They attacked proposed 'Big Brother' powers for HM Revenue and Customs which could ensnare those simply trying to help a friend, relative or colleague to cut their tax bill. Innocent victims could include a person who mentions to a friend in the pub that an Isa is a way of saving £10,200 a year tax-free. Even a vicar who encourages the congregation to donate money using the Gift Aid envelopes, rather than putting cash straight into the Sunday collection, may fall into the trap. Charities could also be hit by the draconian new 'tax avoidance' law, experts claim. It will make it an offence to hold any conversation - even in private, with friends - if it offers clues on how to pay less tax. full story http://www.thisismoney.co.uk/news/article....e_id=2&ct=5 Quote Link to comment Share on other sites More sharing options...
Doc Holliday Posted May 4, 2010 Report Share Posted May 4, 2010 Blimey! That really is scary stuff Nick. Not sure how they would be able to police it though. Screwing people for tax savings advice as if they were career tax dodgers is just a sign of the mess we're in and then only a snowflake on the tip of the iceberg. Quote Link to comment Share on other sites More sharing options...
Ozzy Fudd Posted May 4, 2010 Report Share Posted May 4, 2010 what are they going to do, bug the whole country? Quote Link to comment Share on other sites More sharing options...
Boristhedog Posted May 4, 2010 Report Share Posted May 4, 2010 what are they going to do, bug the whole country? Why not? We're already pretty much covered by cameras. Quote Link to comment Share on other sites More sharing options...
Ozzy Fudd Posted May 4, 2010 Report Share Posted May 4, 2010 if thats the case theyll be locking up bank staff and financial advisors like theres no tomorrow! Quote Link to comment Share on other sites More sharing options...
KFC Posted May 4, 2010 Report Share Posted May 4, 2010 Would that include one Lord advising another to do his Banking in Belize or one former Prime Minister advising another to set up a string of Companies to avoid a tax liability? Quote Link to comment Share on other sites More sharing options...
hushpower Posted May 4, 2010 Report Share Posted May 4, 2010 (edited) Edited May 4, 2010 by hushpower Quote Link to comment Share on other sites More sharing options...
Chard Posted May 5, 2010 Report Share Posted May 5, 2010 (edited) I'll be all right. I've got a tinfoil hat Edited May 5, 2010 by Chard Quote Link to comment Share on other sites More sharing options...
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