Chasing overseas money isn't the solution to our economic woes
Let's not forget that money can be held offshore for perfectly legitimate reasons.
One of Nancy Mitford’s characters famously said, 'Abroad is unutterably bloody, and foreigners are fiends'. This is a sentiment apparently shared by HM Revenue & Customs – and, it might be added, much of the popular press and probably most people in the street, so far as tax is concerned. Over the past few years, we have all seen the growth of a worrying assumption that somewhere, out there, guarded by foreigners, is a massive pool of untaxed goodies which ought to belong to the UK and which – if captured – will single-handedly fix our economic woes.
To read the article in full go to Spear's blog
Related in brief posts
The Court of Protection and the vaccine: to administer or not to administer - Nicola Boulter considers two recent Court of Protection decisions.
Two decisions under the Inheritance (Provision for Family and Dependants) Act (enabling a spouse/civil partner and others, to bring a claim if a Will fails to make reasonable financial provision for that person) have produced very different results.
March sees the launch of the Treasury Committee’s report ‘Tax after coronavirus’, Budget Day and a later release of tax related consultations and calls for evidence. Join our experts at 11am on 24 March to see how these developments may affect you.