Posts Tagged ‘Taxation’

Tax is taxing for Apprentice, Raef Bjayou!

Wednesday, May 14th, 2008

Raef Bjayou, one of the remaining candidates on hit TV show The Apprentice,  might be as smooth-as-silk in the boardroom.  But, behind the scenes, he is facing a fine for failing to missing the accounts filing deadline with Companies House.

Bjayou’s import-export business, called Infinitate, has missed its deadline by three weeks.  A spokesman for the reality TV star said there was nothing untoward about his failure to file the accounts on time, according to newspaper reports.

‘It was simply an oversight that occurred because his business accountant was on holiday. He was completely unaware and will send them in now, but he has done all of his personal tax returns,’ the spokesman said.

HMRC purchases Liechtenstein ‘tax exile’ database for £100,000

Monday, February 25th, 2008

The UK’s tax authority has confirmed that it has paid an informant for data regarding British citizens who have accounts in tax haven Liechtenstein. HM Revenue and Customs (HMRC) confirmed the move after a Sunday Times report, but would not say how much it had paid the informant.

HMRC said it was seeking “to protect the UK exchequer from those who seek to hide behind secrecy laws”.

Separately Germany is involved in its own probe over Liechtenstein accounts.

The Sunday Times newspaper claimed the amount paid to the informant was £100,000 - but that figure has not confirmed.

HMRC said it had made the move in a bid to protect the UK against those trying to “deprive the UK of tax revenues to which it is entitled”.

Meanwhile, Germany has launched a probe into tax evasion using data also from an anonymous informant, who was reportedly paid 5m euros (£3.7m; $7.4m).

In response, the country’s head - Prince Alois von und zu Liechtenstein - has argued that Germany’s move is illegal.

Liechtenstein is now conducting its own investigation on the subject.

The Organisation for Economic Cooperation and Development lists Liechtenstein as one of only three states remaining on its blacklist of “uncooperative tax havens”.

The amount of back taxes and fines owed to the HMRC could total in excess £100m - although this has yet to be confirmed.