With the BBC Panorama program on Sunday, it is has become obvious how easy the rich can trick Her Majesties Revenue and Customs out of billions. HM Revenue and Customs claim that tax evasion costs the tax payer on average £4 billion a year.
This is just another example in recent times, of the rich selfishly passing their burdens onto the working class.
The structure proposed by James Turner, of Turner Little, a corporate service provider, used nominee directors to help keep the clients name from being on the company paperwork. These nominee directors can be lawfully appointed to run companies on behalf of others, but they would be running nothing. In other words, it would be a web of lies and deception.
James Turner, told the undercover reporter: “They wont even know that they are a director, they just get paid,” he also told the reporter that adding the directors signature could be done by using a stamp. Corporate service providers, are legal companies that assist people in creating a business, both in the UK, and abroad, but these companies have been helping set up these fake companies, just to help the upper classes hide their money from HM Revenue and customs. If a business is set up like this, then it is no longer legal, it is a criminal offence.
In spite of this, Jack Turner denies allegations of criminal misconduct, and has stated that Turner Little will conduct an internal investigation, and if it is appropriate, it will take action.
In a statement, HM Revenue and Customs, which regulates all of the 2467 company service providers in the UK, claimed that most of the firms have nothing to do with illegal or criminal activity. However, it did confirm that it has never prosecuted a single corporate service provider for breaching money laundering regulations.
In recent times of austerity, cuts have hit everybody hard. From the student, with the rising university fees, to the pensioner, having their monthly amount cut. Everybody, or so it seems, but the rich, who have found yet another way to steal money once again, costing the taxpayer £4 billion a year.
The Tory government is supported and funded by the banks and big business and media so they would only regulate tax evasion and avoidance if we put enormous pressure on them – they don’t want to bite that hand that feeds them.
We need to tax the rich and use the money to pay for education, healthcare and jobs, but we also would need to stop these companies from moving their money abroad to avoid tax – we would need to take it off them and say that they are welcome to move but their (our) wealth stays here.