HSBC scandal & Offshore Banking
Feb 16th 2015, 5:31 am
#1
BE Enthusiast
Thread Starter
Joined: Nov 2008
Posts: 361
HSBC scandal & Offshore Banking
Thoughts?
I would imagine its safer to stash the money in a trust or far away from the snitches in Europe (Singapore & Hongkong) comes to mind.
HSBC files | The Guardian
Feb 16th 2015, 7:56 am
#2
Forum Regular
Joined: Jan 2014
Location: Jeddah, KSA
Posts: 76
Re: HSBC scandal & Offshore Banking
Why? As an expat earn my money in a tax free environment...I'm not avoiding tax. The HSBC issue is a different thing altogether, helping people who earned their money in the UK avoid paying tax that is due. Even if the details of my IOM account were passed to the HMRC it would take a matter of minutes to determine that I had done nothing untoward.
Of course if you're trying to avoid paying tax on UK earnings, I guess you take your chances.
Of course if you're trying to avoid paying tax on UK earnings, I guess you take your chances.
Feb 16th 2015, 9:29 am
#3
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: HSBC scandal & Offshore Banking
Why? As an expat earn my money in a tax free environment...I'm not avoiding tax. The HSBC issue is a different thing altogether, helping people who earned their money in the UK avoid paying tax that is due. Even if the details of my IOM account were passed to the HMRC it would take a matter of minutes to determine that I had done nothing untoward.
Of course if you're trying to avoid paying tax on UK earnings, I guess you take your chances.
Of course if you're trying to avoid paying tax on UK earnings, I guess you take your chances.
Nothing wrong with having money offshore.
