CITY VIEWS: IS THE GOVERNMENT RIGHT TO CLAMP DOWN ON TAX HAVENS?
RICARDO PINEIRO ESPIRITO SANTO
“The people who have access to these accounts are very wealthy, and to allow them to evade taxes is not fair to those paying tax in the UK. Also, it’s a messy time for the government with the public debt, so they are trying to get their hands on all the funds they can.”
RICHARD BRUCE SJ BERWIN
“The clampdown is obviously targeted at the wealthy, but they have already been hit by the 50 per cent top income tax band and the government shouldn’t alienate them any further. The government should use money from existing tax revenues more wisely.”
JAMES RADMORE ORIENT CAPITAL
“Yes, as long as the cost of enforcement does not outweigh the tax revenue the government will be able to reclaim. I don’t think we should be worried about alienating top earners too much, as there will always be loopholes in taxation law for them to exploit.”