LibLink: Vince Cable – We’ll hunt down the tax avoiders

Over on The Guardian website, Vince Cable writes:

Tax avoidance, sham directors, money laundering: the recent Guardian investigation made sobering reading. In the UK we are proud that it is easier and cheaper to set up a company here than just about anywhere in the world. This flexibility is hugely valued by the start-ups and small companies which create a significant proportion of our wealth and jobs, and which are vital to recovery from the latest recession. But this flexibility provides a challenge: how do we stop our system from being abused by people who want to use it to dodge tax or to launder the proceeds of crime?…

The government takes breaches of the law seriously. Last year we disqualified more than 1,100 directors, including people who were not formally registered or appointed as directors and shadow directors. We also wound up 355 companies in the public interest and pursued many others for tax evasion and other offences. We are investigating the allegations against the individuals and companies made by the Guardian and Panorama and, where there is a strong legal case, we will take action. We are also reviewing our legal and enforcement priorities to ensure that we are focusing resources on the most serious abuses. Concerns have been raised about the potential abuse of arrangements for hidden ownership, and I am attracted to the idea of increasing transparency to prevent the concealment of corporate control. Where there is flagrant abuse of corporate entities, we will seek to tackle it.

Read Vince Cable’s piece in full here.

* Newshound: bringing you the best Lib Dem commentary published in print or online.

Read more by or more about , , or .
This entry was posted in LibLink.
Advert

4 Comments

  • Richard Dean 15th Dec '12 - 11:44am

    Free headlines!
    Free headlines!
    Get your free headlines here!

  • In all honesty, the Tory Party will never, ever “go after” big tax avoiding companies (for all sorts of non-printable reasons!). The very limited influence that the LibDems have on them will not change their position one bit. I speak as someone who has never avoided paying a single penny of tax, whether self-employed or PAYE. Sorry Vince, but nobody will take you seriously.

  • This flexibility is hugely valued by the start-ups and small companies which create a significant proportion of our wealth and jobs,

    The point is it isn’t our wealth it’s theirs if they created it. Hard for an ex-Labour member like Cable to understand perhaps.

  • Margaret Rutter 16th Dec '12 - 12:41pm

    Why is it that we are not investigating these companies prior to media reports?

Post a Comment

Lib Dem Voice welcomes comments from everyone but we ask you to be polite, to be on topic and to be who you say you are. You can read our comments policy in full here. Please respect it and all readers of the site.

If you are a member of the party, you can have the Lib Dem Logo appear next to your comments to show this. You must be registered for our forum and can then login on this public site with the same username and password.

To have your photo next to your comment please signup your email address with Gravatar.

Your email is never published. Required fields are marked *

*
*
Please complete the name of this site, Liberal Democrat ...?

Advert



Recent Comments

  • User AvatarLorenzo Cherin 20th Oct - 11:50pm
    Paul and David, at it again, getting me at it too , with much thanks ! A remarkable story , the unplanned speech, don,t ever...
  • User Avatarfrankie 20th Oct - 10:36pm
    Sheila, Time ticks on and everyday the leave case is shot to pieces. As reality bites the only thing that seems to be keeping Leavers...
  • User Avatarfrankie 20th Oct - 10:23pm
    Clegg came from a political bubble with limited inter action with normal people. He also seems to have fallen into a trap one of my...
  • User AvatarKatharine Pindar 20th Oct - 10:19pm
    Well said, David! Long may you continue act as usefully as you do. Michael, thank you for pointing out what was already known about Palehorse...
  • User AvatarPeter Hayes 20th Oct - 9:28pm
    As my parents are both dead it is probably safe to say they remember me saying "let Daddy smack me" as an an alternative to...
  • User AvatarAndrew McCaig 20th Oct - 8:32pm
    Just so long as we are not going to go down the Norwegian route. There are, I am afraid, much worse forms of child abuse...