Now we have evidence that UK could become a tax haven after Brexit

Tax haven: Imagine that those are the White Cliffs of Dover instead of a tropical island and you’ll get an idea of what the Tories want from Brexit.

We’ve expected this for some time – Jeremy Corbyn warns us about it with alarming regularity. Now we have evidence.

The Tories want to turn the UK into a tax haven, where the rich will go untaxed and the poor will pay.

And Brexit will make it possible.

Brexiters – anything to say, beyond the usual ranting?

The UK could become defined as a tax haven by the EU after it leaves the bloc, participants of an All Party-Parliamentary Group on Responsible Tax seminar have warned.

Fears were raised during an APPG session on Thursday last week that the UK would not pass the EU’s ‘fair tax test’, which it will become subject to after Brexit as only countries outside the Union are assessed.

Anneliese Dodds, Labour MP and former member of the European Parliament, believed the UK could be part of the EU’s ‘blacklist’ of tax havens and questioned whether the UK would still be part of the process to tackle avoidance and evasion.

“When the UK leaves the EU, there’s a question about whether we would still be part of this process and whether the UK could end up on that blacklist – because it has been suggested by some EU nations that it should be on that tax havens blacklist,” she said.

The European Council’s criteria for countries not to be blacklisted as tax havens includes a definition of fair tax rules, which dictates countries should not offer preferential tax measures or arrangements that allow companies to move profits to avoid tax.

Dodds explained the UK has been under the ‘tax-lens’ because of its rules for multinational companies and foreign exemptions.

Source: UK could become a ‘tax haven’ after Brexit, an APPG heard   | Public Finance


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8 thoughts on “Now we have evidence that UK could become a tax haven after Brexit

  1. krazyklaws

    Just what the Hard Brexit brigade want, any trade deal.with the EU.will have clauses in it to prevent the UK from offering lower tax rates to.attract capital flight.

    This will be opposed by the Tories and their City donors who see money to be made laundering dirty cash.

  2. lawrencesroberts

    Australia, Britain and The U.S. move towards, quite quickly, The Cashless Society where everyone pays tax except the very very rich. George Orwells prediction of the perpetually crushed society is almost upon us.

  3. Barry Davies

    The eu regulations don’t prevent this happening now, I don’t see why people have such a rose tinted idea about the most corrupt democratically deficient bloc in the world.

  4. rollo57

    The UK, to the non-British, has been a tax haven for decades! Just ask the likes of Lord Ashcroft or Mark Carney, both Non-Doms!
    Here’s some more; Roman Abramovich, Arpad Busson James Caan, Richard Caring,
    Mark Carney, Governor of the Bank of England, Sudhir Choudhrie, Sir Ronald Cohen,
    Ben Goldsmith, Stuart Gulliver, CEO of HSBC, Lewis Hamilton, Jonathan Harmsworth, 4th Viscount Rothermere, António Horta Osório, CEO of Lloyds Banking Group, Ross McEwan, CEO of Royal Bank of Scotland Group (RBS), John McFarlane, Chairman of Barclays, Lakshmi Mittal, Sir Christopher Ondaatje, Sir Anwar Pervez, David Potter, Sigrid Rausing, Doug Richard, Pascal Soriot, CEO of AstraZenec, Mark Wilson, CEO of Aviva.

Comments are closed.