Lynne's message on Tax

Dear Supporter

Many of you are talking to me about the campaign for a Tax Dodging Bill.

I agree with you that tax dodging is morally wrong, and I am very concerned by

recent reports alleging large-scale tax avoidance via HSBC’s Swiss banking arm.

 

If we are to earn our way out of the cost-of-living crisis and pay down

the deficit we need thriving businesses that create more secure and

better paid jobs across the country, and we need to see taxes being

paid not avoided. David Cameron and George Osborne have totally

failed to tackle tax avoidance in the last five years. They have failed to

close the loopholes we have highlighted. And the amount of uncollected

tax has risen under this government. One of the Tories’ top donors,

Lord Fink, has admitted to avoiding tax and has even said “tax

avoidance: everyone does it”. I disagree.

 

The next Labour Government will act where the Tories have

failed. Labour has set out the measures it will take to tackle tax

avoidance in its first Finance Bill. The Conservatives and Liberal

Democrats voted against these proposals in the House of Commons on

11 February – but if Labour is elected at the General Election we will

make them law, and if I am elected as your Labour MP I will vote for

them.

 

We will close loopholes that cost the Exchequer billions of pounds a

year, increase transparency and toughen up penalties. We will act in

our first Finance Bill to:

• Introduce penalties for those who are caught by the General Anti-

Abuse Rule;

• Close loopholes used by hedge funds to avoid stamp duty;

• Close loopholes like the Eurobonds loophole which allow some large

companies to move profits out of the UK and avoid Corporation

Tax;

• Stop umbrella companies exploiting tax reliefs;

• Scrap the “Shares for Rights” scheme, which the OBR has warned

could enable avoidance and cost £1bn and is administered by

HMRC, and so ensure HMRC can better focus on tackling tax

avoidance;

• Tackle disguised self-employment by introducing strict deeming

criteria;

• Tackle the use of dormant companies to avoid tax by requiring them

to report more frequently.

Labour’s measures to tackle tax avoidance will also include: 

• Ensuring stronger independent scrutiny of the tax system, including

reliefs, and the government’s efforts to tackle tax avoidance;

• Forcing the UK’s Overseas Territories and Crown Dependencies to

produce publicly available registries of beneficial ownership;

• Making country-by-country reporting information publicly available;

• Ensuring developing countries are properly engaged in the drawing

up of global tax rules.

I hope you will consider voting Labour in May.

With kind regards,

Lynne Richards

Labour Party Central Devon Parliamentary Candidate for the 2015

General Election

 

 

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@ tweeted this page. 2015-02-18 09:00:13 +0000
Read Lynne Richards' message on tax and leave your comments at the Labour Central Devon Website http://www.labourcentraldevon.org/lynne_s_message_on_tax?recruiter_id=3
Central Devon Labour Party posted about Lynne's message on Tax on Central Devon Labour Party's Facebook page 2015-02-18 09:00:12 +0000
Read Lynne Richards' message on tax and leave your comments at the Labour Central Devon Website
@ tweeted this page. 2015-02-18 09:00:11 +0000
Central Devon Labour Party posted about Lynne's message on Tax on Central Devon Labour Party's Facebook page 2015-02-18 09:00:11 +0000
Lynne's message on Tax

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