{"id":33160,"date":"2012-12-27T01:22:07","date_gmt":"2012-12-27T06:22:07","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=33160"},"modified":"2012-12-27T01:29:54","modified_gmt":"2012-12-27T06:29:54","slug":"uk-to-forgive-backlog-of-wealthy-tax-evaders","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2012\/uk-to-forgive-backlog-of-wealthy-tax-evaders.html","title":{"rendered":"UK To &#8220;Forgive&#8221; Backlog of Wealthy Tax Evaders"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/12\/article-new_ehow_images_a06_bm_cc_report-tax-evasion-irs-800x800.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-33162\" title=\"tax-evasion\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/12\/article-new_ehow_images_a06_bm_cc_report-tax-evasion-irs-800x800.jpg\" alt=\"\" width=\"152\" height=\"174\" \/><\/a>New York (HedgeCo.Net) &#8211; UK bankers, hedge fund managers and celebrities are being offered a chance to settle income\u00a0tax avoidance\u00a0schemes estimated to have sheltered more than \u00a33.5bn \u00a0($5.6 billion) through film financing structures and other\u00a0tax-motivated partnerships, the Guardian reports.<\/p>\n<p>The settlement\u00a0parameters\u00a0have not been set as yet, but\u00a0HM Revenue &amp; Customs plans to\u00a0&#8220;clear the enormous backlog of tax schemes, many of which are a decade or more old&#8221;.<\/p>\n<blockquote><p>&#8220;HMRC&#8217;s move to offer settlements comes three years after a partial amnesty was offered to UK tax evaders hiding assets in Liechtenstein. They were lured into settlements with generous terms including cutting fines by 90% and capping the lost interest clawed back by the Exchequer.<\/p>\n<p>&#8220;Last year, about\u00a01,200 evaders using Liechtenstein came\u00a0forward, generating \u00a33bn for the Exchequer \u2013 three times the initial estimates.&#8221; <em>The Guardian Reports.<\/em><\/p><\/blockquote>\n<p>Among those to have participated in tax-efficient film partnership schemes organised by Soho-based Ingenious Media \u2013 one of the largest film partnership firms \u2013 are footballers Steven Gerrard and Wayne Rooney; business figures Sir James Dyson and Lord Hollick; and pop stars Peter Gabriel and Robbie Williams. Ingenious is to go before a tax tribunal next year to clarify the scheme&#8217;s status.\u00a0Many partnerships are registered in Jersey ensuring the names of high-profile investors are not disclosed.<\/p>\n<p>Editing by Alex Akesson<br \/>\nFor <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; UK bankers, hedge fund managers and celebrities are being offered a chance to settle income\u00a0tax avoidance\u00a0schemes estimated to have sheltered more than \u00a33.5bn \u00a0($5.6 billion) through film financing structures and other\u00a0tax-motivated partnerships, the Guardian reports. The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,3],"tags":[],"class_list":["post-33160","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=33160"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33160\/revisions"}],"predecessor-version":[{"id":33164,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33160\/revisions\/33164"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=33160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=33160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=33160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}