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K2 (tax Scheme)
K2 was an offshore wealth management scheme in which salaries of individuals in the United Kingdom were channelled through shell corporations in Jersey, Channel Islands. In June 2012, media reporting of people using K2 for the purposes of tax avoidance was followed by the United Kingdom's Prime Minister David Cameron characterising the scheme as "morally wrong". Later that year the UK government began to introduce legislation to deter people from using such schemes. Operation The K2 scheme was promoted by a Kirkcaldy-based accounting firm, Peak Performance. The scheme involved companies having their main operations in the UK and shell companies offshore. An employee of the UK company would quit their job and then be rehired by the offshore company to the UK. The offshore company would pay a lower salary than the person was originally on but would additionally loan them a large sum of money. Those loans would then be written down as tax liabilities to reduce the amount of tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Offshore Banking
An offshore bank is a bank regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. Due to less regulation and transparency, accounts with offshore banks were often used to hide undeclared income. Since the 1980s, jurisdictions that provide financial services to nonresidents on a big scale can be referred to as offshore financial centres. OFCs often also levy little or no corporation tax and/or personal income and high direct taxes such as duty, making the cost of living high. With worldwide increasing measures on CTF ( combatting the financing of terrorism) and AML (anti-money laundering) compliance, the offshore banking sector in most jurisdictions was subject to changing regulations. Since 2002 the Financial Action Task Force issues the so-called FATF blacklist of "Non-Cooperative Countries or Territories" (NCCTs), which it perceived to be non-c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jimmy Carr
James Anthony Patrick Carr (born 15 September 1972) is a British-Irish comedian, presenter, writer, and actor. He is known for his deadpan delivery of controversial one-liners and distinctive laugh, for which he has been both praised and criticised. He began his comedy career in 1997, and he has regularly appeared on television as the host of Channel 4 panel shows such as '' 8 Out of 10 Cats'', '' 8 Out of 10 Cats Does Countdown'', and '' The Big Fat Quiz of the Year''. Early life and education James Anthony Patrick Carr was born on 15 September 1972, in Hounslow, London, England, the second of three sons born to Irish immigrant parents Nora Mary (née Lawlor; 19 September 1943 – 7 September 2001) and Patrick James "Jim" Carr (born 1945), an accountant who became the treasurer for computer company Unisys. His parents were married in 1970 and separated in 1994, but never divorced. Carr spent most of his early life in the village Farnham Common, Buckinghamshir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United Kingdom
Taxation in the United Kingdom may involve payments to at least three different levels of government: central government (HM Revenue & Customs), devolved governments and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for on-street parking. In the fiscal year 2014–15, total government revenue was forecast to be £648 billion, or 37.7 per cent of GDP, with net taxes and National Insurance contributions standing at £606 billion. History A uniform Land tax, originally was introduced in England during the late 17th century, formed the main source of government revenue throughout the 18th century and the early 19th century.Stephen Dowell, ''History of Taxation and Taxes in England'' (Routledge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Avoidance In The United Kingdom
Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. A tax shelter is one type of tax avoidance, and tax havens are jurisdictions that facilitate reduced taxes. Tax avoidance should not be confused with tax evasion, which is illegal. Forms of tax avoidance that use legal tax laws in ways not necessarily intended by the government are often criticized in the court of public opinion and by journalists. Many corporations and businesses that take part in the practice experience a backlash from their active customers or online. Conversely, benefiting from tax laws in ways that were intended by governments is sometimes referred to as tax planning. The World Bank's World Development Report 2019 on the future of work supports increased government efforts to curb tax avoidance as part of a new social contract focused on human capital investments and expanded social prote ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Independent
''The Independent'' is a British online newspaper. It was established in 1986 as a national morning printed paper. Nicknamed the ''Indy'', it began as a broadsheet and changed to tabloid format in 2003. The last printed edition was published on Saturday 26 March 2016, leaving only the online edition. The newspaper was controlled by Tony O'Reilly's Irish Independent News & Media from 1997 until it was sold to the Russian oligarch and former KGB Officer Alexander Lebedev in 2010. In 2017, Sultan Muhammad Abuljadayel bought a 30% stake in it. The daily edition was named National Newspaper of the Year at the 2004 British Press Awards. The website and mobile app had a combined monthly reach of 19,826,000 in 2021. History 1986 to 1990 Launched in 1986, the first issue of ''The Independent'' was published on 7 October in broadsheet format.Dennis Griffiths (ed.) ''The Encyclopedia of the British Press, 1422–1992'', London & Basingstoke: Macmillan, 1992, p. 330 It was produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technicality
The term legal technicality is a casual or colloquial phrase referring to a technical aspect of law. The phrase is not a term of art in the law; it has no exact meaning, nor does it have a legal definition. It implies that strict adherence to the letter of the law has prevented the spirit of the law from being enforced. However, as a vague term, the definition of a technicality varies from person to person, and it is often simply used to denote any portion of the law that interferes with the outcome desired by the user of the term. Some legal technicalities govern legal procedure, enable or restrict access to courts, and/or enable or limit the discretion of a court in handing down judgment. These are aspects of procedural law. Other legal technicalities deal with aspects of substantive law, that is, aspects of the law that articulate specific criteria that a court uses to assess a party's compliance with or violation of, for example, one or more criminal laws or civil laws.In th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HM Revenue And Customs
HM Revenue and Customs (His Majesty's Revenue and Customs, or HMRC) is a non-ministerial government department, non-ministerial Departments of the United Kingdom Government, department of the His Majesty's Government, UK Government responsible for the tax collection, collection of Taxation in the United Kingdom, taxes, the payment of some forms of Welfare state in the United Kingdom, state support, the administration of other regulatory Regime#Politics, regimes including the national minimum wage and the issuance of national insurance numbers. HMRC was formed by the merger of the Inland Revenue and HM Customs and Excise, which took effect on 18 April 2005. The department's logo is the St Edward's Crown enclosed within a circle. Prior to the Elizabeth II, Queen's death on 8 September 2022, the department was known as ''Her'' Majesty's Revenue and Customs and has since been amended to reflect the change of monarch. Departmental responsibilities The department is responsible for the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sunday Herald
The ''Sunday Herald'' was a Scottish Sunday newspaper, published between 7 February 1999 and 2 September 2018. Originally a broadsheet, it was published in compact format from 20 November 2005. The paper was known for having combined a centre-left stance with support for Scottish devolution, and later Scottish independence. The last edition of the newspaper was published on 2 September 2018 and it was replaced with Sunday editions of ''The Herald'' and ''The National''''. Circulation In July 2012, the newspapers' publishers classified the ''Sunday Herald'' as a regional instead of a national title. Between July and December 2013, the ''Sunday Herald'' sold an average of 23,907 copies, down 7.5% on the 12 months previous. After declaring support for Scottish independence, The ''Sunday Herald'' received a huge increase in sales, with circulation in September 2014 up 111% year on year. By 2017 circulation had fallen to 18,387 and in August 2018 staff were told they would now ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute Of Chartered Accountants Of Scotland
The Institute of Chartered Accountants of Scotland (ICAS) is the world's first professional body of Chartered Accountants (CAs). It is a regulator, educator, influencer and thought leader. ICAS act as a thought leader and voice of the professional business community. Although other British accounting bodies use the title Chartered Accountant, the CA designation is unique to ICAS in the UK. ICAS has more than 21,000 members and students worldwide. ICAS provides support, advice and services to its CAs throughout their professional lives. ICAS members are business advisors, business leaders and entrepreneurs. They play leading roles in 80% of the FTSE 100 companies. Half of ICAS members are based in Scotland; the other half work in England and around the globe.{{cite web, title=About ICAS, url=http://www.scottish.parliament.uk/s4/committees/eet/inquiries/ScotlandBill/documents/ICAS.pdf, work=Submission from ICAS on Corporation Tax Reform, publisher=Scottish Parliament, access-date ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ITV News
ITV News is the branding of news programmes on the British television network ITV. ITV has a long tradition of television news. Independent Television News (ITN) was founded to provide news bulletins for the network in 1955, and has since continued to produce all news programmes on ITV. The channel's news coverage has won awards from the Royal Television Society, Emmy Awards and BAFTAs. Between 2004 and 2008, the ''ITV Evening News'' held the title of "RTS News Programme of the Year". The flagship ''ITV News at Ten'' has won numerous BAFTA awards, and also being named "RTS News Programme of the Year" in 2011, 2015, 2021 and 2022. ITV News has the second-largest television news audience in the United Kingdom, second only to BBC News (and followed by other broadcasters such as Sky News, Channel 4 News and Channel 5 News). However, its £43 million annual news budget is dwarfed by that of the publicly funded BBC, which spends £89.5 million annually on news-gathering, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Tunbridge Wells
Royal Tunbridge Wells is a town in Kent, England, southeast of central London. It lies close to the border with East Sussex on the northern edge of the High Weald, whose sandstone geology is exemplified by the rock formation High Rocks. The town was a spa in the Restoration and a fashionable resort in the mid-1700s under Beau Nash when the Pantiles, and its chalybeate spring, attracted visitors who wished to take the waters. Though its popularity as a spa town waned with the advent of sea bathing, the town still derives much of its income from tourism. The town has a population of around 56,500, and is the administrative centre of Tunbridge Wells Borough and in the parliamentary constituency of Tunbridge Wells. History Iron Age Evidence suggests that Iron Age people farmed the fields and mined the iron-rich rocks in the Tunbridge Wells area, and excavations in 1940 and 1957–61 by James Money at High Rocks uncovered the remains of a defensive hill-fort. It is tho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Times
''The Times'' is a British daily national newspaper based in London. It began in 1785 under the title ''The Daily Universal Register'', adopting its current name on 1 January 1788. ''The Times'' and its sister paper ''The Sunday Times'' (founded in 1821) are published by Times Newspapers, since 1981 a subsidiary of News UK, in turn wholly owned by News Corp. ''The Times'' and ''The Sunday Times'', which do not share editorial staff, were founded independently and have only had common ownership since 1966. In general, the political position of ''The Times'' is considered to be centre-right. ''The Times'' is the first newspaper to have borne that name, lending it to numerous other papers around the world, such as ''The Times of India'', ''The New York Times'', and more recently, digital-first publications such as TheTimesBlog.com (Since 2017). In countries where these other titles are popular, the newspaper is often referred to as , or as , although the newspaper is of nationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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