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BBC Panorama: Tax evasion

27.11.12

Last night, BBC Panorama focused on tax avoidance and how high earners shelter undeclared income in trust funds in remote places.

The programme targeted companies offering extremely complex tax schemes to their potential clients, which use nominee directors based in locations such as the Caribbean islands of Belize and Nevis. Nominee directors sign the legal documentation for a company, disguising the ownership of tens of thousands of companies across the world.

Sham directors were originally uncovered in the 90s after the small British island of Sark was involved in such schemes. It was infamously dubbed the ‘Sark Lark’, and although it was supposedly stopped, the practice simply evolved and moved across the globe.

Remember that if it sounds too good to be true then it probably is. Keeping your affairs simple with the kitchen table accounts of the self-employed is at the heart of Consort.

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