Harry Redknapp HMRC Case is a Warning for the Self Employed
The high profile case of ex Portsmouth FC manager, Harry Redknapp, currently up in court against HMRC on accounts of tax evasion can provide a useful warning to self employed workers who are currently avoiding tax. Redknapp has been accused of using an off shore account in Monaco to receive a bonus payment that bypassed any UK taxation. This approach has been attempted by many UK workers, with offshore accounts based in tax havens such as the Isle of Man. HMRC have been clamping down on this sort of evasion for the last few years, meaning that those who have been found guilty of doing it have been faced with back payment of unpaid taxes for as much as five years. With penalties potentially in the tens of thousands of pounds, self employed workers need to be sure they have verified with an experienced contractor accountants before they opt into any low tax solution.
~admin
Tags: contractor accountants
This entry was posted by admin at 1:57 am and is filed under Personal Finance.
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