Ritchie\’s a joy to behold

So, about the Stars deals, dodgy bank dealings too complex to bother with.

Ritchie says:

I’m interested to note that not only were Barclays purveyors, at considerable cost to HMRC (so please don’t tell me there’s no tax gap now, or that it’s not much bigger then the paltry sums HMRC say it is when these deals alone are meant to have cost $800 million to HMRC – and that’s just one set of deals in one bank)

The FT piece he is quoting from says:

The multi-step transactions ultimately left the US government fighting the banks over more than $1bn worth of tax receipts it claims it was owed, while the UK Exchequer appears to have received a net tax benefit.

So Ritchie is now counting *more* tax received by HMRC as part of or proof of the tax gap.

1 thought on “Ritchie\’s a joy to behold”

  1. I suppose he’s working on the “where there’s smoke, there’s fire” idea. Where there’s Murphy, there’s idiocy is a far more valid dictum..

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