A blog by Jaimie Kaffash, Accountancy Age’s tax reporter
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05 Jun 2007
There's a comment on a post by Dennis Howlett about the tax 'amnesty' that's interesting, from Simon Sweetman.
Talking about how the banks have offered offshore accounts in the past, he says:
The pattern has been that the banks suggested to people with reasonably large deposits that they might put their money offshore. Ostensibly this would be to get a better rate of interest, but the rest of it was done with a nod and a wink (of course the Inland Revenue will never find out if you don’t tell them…). Currently they’re suggesting Singapore.
All of which I found very intriguing. I've always fancied going undercover to find out whether the firms would offer me some outrageous tax planning, but it would be fun to do it with the banks aswell. I'd have to fake a large bank deposit, it seems; somewhat easier said than done when you're just a lowly tax hack.
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