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As the title really. Just seen the story on HSBC. How has no one been convicted and served time for tax evasion. The USA for all it's faults does take white collar crime seriously.
The message this sends is it's OK to defraud the uk taxpayer. If you get caught just pay back what you owe.
I really feel that some of these people should have a custodial sentence. How can we all be 'in it together' if there is one rule for the plebs and another for the rich!
I think Marxist theories apply here ...
[i]In the last three years we have prosecuted 2,343 individuals, including some very high-profile barristers, accountants and lawyers, securing a collective total
of 2,500 years in custodial sentences. We use civil procedures, as well as criminal, because this allows us to increase both the volume of cases that we pursue and the revenues that we can secure for the Exchequer, while hitting evaders with tough financial penalties.[/i]
from [url= https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/271776/HMRC_issue_briefing_-_tackling_tax_evasion.pdf ]here[/url] (don't be frightened of the big scary eyes)
If you get caught just pay back what you owe.
plus a penalty of up to 70% if the tax due - so just pay back nearly twice as much as owe
Often with tax evasion it's not as simple as 'illegality'
The tax code is incredibly complex, often there are differing opinions on whether something is within or without the rules, lots of grey areas, huge cases like the Cadbury schweppes tax battle that dragged on for years over tax domiciles
Throw into that complex things like the case my mum dealt with some years ago, when a bloke was threatened with prosecution and penalties after not sending back some vital paperwork, it turned out that the courier van with the papers in was actually stolen, all recorded, police aware, but according to 'the system' it was still his responsibility until delivered, so he was technically guilty (cps threw it out just before trial)
[url= http://www.scriptonitedaily.com/2014/12/02/rbs-bankers-guilty-of-3m-fraud-walk-free-judge-says-theyve-suffered-enough/ ]Bankers in 3 mil fraud walk free[/url] id say no.