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Post by Red Rackham on Jun 8, 2024 16:31:18 GMT
There will be no hiding place from the taxman whoever wins the general election as both parties are lining up a major expansion of tax investigations, experts warn. But Labour will really go for it. HM Revenue & Customs can delve deeper into people's financial affairs than ever before via its super computer HMRC Connect. This cutting edge £80million software mines our online personal data and cross-references it with a heap of other databases to root out fraudulent or undisclosed activity. HMRC Connect holds more than 55billion items of data on taxpayers that it can compare against its own records to highlight discrepancies. THP Chartered Accountants has previously warned that “the taxman is spying on you” as HMRC Connect "takes Big Brother surveillance to a completely new level”. In April, shadow chancellor Rachel Reeves pledged that Labour would invest £555million to recruit more tax inspectors to reduce evasion and raise more than £5billion a year extra by the end of the next Parliament. HMRC Connect collects taxpayers data from a range of sources including online retail platforms like eBay, Gumtree, Etsy and Vinty, property sales sites, social media platforms and online payments providers. It also gathers data from banks, insurers, pension companies, airports and airlines, local authorities and other government departments. www.express.co.uk/finance/personalfinance/1908741/HMRC-Connect-tax-investigation-robots-spies-Labour-Party-Rachel-ReevesNothing wrong with investigating tax evaders, but who else are HMRC spying on? It looks as if Labour are really going to embrace Big Brother technology. This is the problem with going digital, everything is recorded, your movements, your spending habits, your entire way of life is recorded, and most people are blissfully unaware of it.
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Post by sheepy on Jun 8, 2024 17:10:25 GMT
Best be like the rest of us Rackham own nothing but debt and they are on a sure-fire loser. Even they cannot take something you don't have. Here is what will happen all the people they try to squeeze will end up bankrupt and all their debts will end up unpaid, they did exactly the same the last time they were in power, whereas if they left it alone the debts would get paid overtime and new debts would always be taken up, people won't lose their homes and end up with a tent city like the last time they tried it and the benefits bill won't grow exponentially. While also the cost of inspectors was never recouped from lost tax revenue, they gained, but then nuts they are if something fails why not keep doing it.
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Post by Red Rackham on Jun 8, 2024 17:29:01 GMT
Best be like the rest of us Rackham own nothing but debt and they are on a sure-fire loser. Even they cannot take something you don't have. I have zero debt, yes yes yes I know, people say 'everyone has debt', but I assure you I have zero debt. And I pay for most things with cash. I intentionally do my best to keep my 'digital footprint' as small as possible.
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Post by sheepy on Jun 8, 2024 17:32:35 GMT
Best be like the rest of us Rackham own nothing but debt and they are on a sure-fire loser. Even they cannot take something you don't have. I have zero debt, yes yes yes I know, people say 'everyone has debt', but I assure you I have zero debt. And I pay for most things with cash. I intentionally do my best to keep my 'digital footprint' as small as possible. Yes, but you are fucked this time, they have a supercomputer, so it curtains for you.
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Post by Red Rackham on Jun 8, 2024 17:35:05 GMT
I have zero debt, yes yes yes I know, people say 'everyone has debt', but I assure you I have zero debt. And I pay for most things with cash. I intentionally do my best to keep my 'digital footprint' as small as possible. Yes, but you are fucked this time, they have a supercomputer, so it curtains for you. ? Not sure I follow...
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Post by sheepy on Jun 8, 2024 17:38:13 GMT
Yes, but you are fucked this time, they have a supercomputer, so it curtains for you. ? Not sure I follow... I was taking the piss Rackham, it will be an almighty cluster fuck, you can bet on that, ending up with making half the country bankrupt, but not if you work for the government, you will be safe, except you won't.
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Post by ProVeritas on Jun 8, 2024 19:54:11 GMT
Best be like the rest of us Rackham own nothing but debt and they are on a sure-fire loser. Even they cannot take something you don't have. I have zero debt, yes yes yes I know, people say 'everyone has debt', but I assure you I have zero debt. And I pay for most things with cash. I intentionally do my best to keep my 'digital footprint' as small as possible. With over 15,000 posts on just here they probably already know more about you than you do. All The Best
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Post by piglet on Jun 9, 2024 10:58:45 GMT
Whether its on computer or youtube, whatever i search then appears on news feeds, and astonishingly on youtube. You cant fart now without rishi sunak knowing, oh, hes monitored too, big brother knows everything. Cameras are everywhere, email is monitored.....or can be, god help us.
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Post by steppenwolf on Jun 11, 2024 6:37:06 GMT
The "low hanging fruit" when it comes to fraud are tax evasion by small traders and benefit fraud. And you don't need a supercomputer to find this fraud. You just need to get the DWP investigators to get off their arses and go out and find them. But I suspect that Labour will target the high earners - who mostly hand over their financial affairs to an accountant and pay what's due. There will be some, of course, who are breaking the law but the govt won't find much money here.
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Post by ProVeritas on Jun 11, 2024 7:43:11 GMT
The "low hanging fruit" when it comes to fraud are tax evasion by small traders and benefit fraud. And you don't need a supercomputer to find this fraud. You just need to get the DWP investigators to get off their arses and go out and find them. But I suspect that Labour will target the high earners - who mostly hand over their financial affairs to an accountant and pay what's due. There will be some, of course, who are breaking the law but the govt won't find much money here. Yeah, go after the people whose fraud is minimal; never go after the big guys whose fraud heralds decades of austerity. Going after multinational Tax Evasion would benefit the Exchequer orders of magnitude more that going after small traders; but small traders don't fill party coffers with brown envelopes, do they? Likewise the super rich, one super-rich tax evader will be defrauding the Exchequer of more than whole football stadiums of small-traders. All such fraud should be tackled, and punished, but go after the ones causing most harm first. This link is from America, but I am willing to bet the numbers play out roughly the same here in the UK. The report found that as an average "everyone" under-reports taxable income by 4% to 5%. Whereas the top 1%ers were under-reporting taxable income by up to 21%. And this was just from random audits audits of approximately 5% of the top 1% earners. Similar patterns were seen in the Nordic Nations, and of course the Panama Papers showed that not only were UK residents doing the same but that the UK FSS was instrumental in facilitating this huge global tax evasion scandal. There's an easy way to cut through most of this: 1. massively simplify the UK Tax Code, to make it both harder to commit Tax Evasion and easier to detect it; 2. massively increase the penalties for Tax Evasion, starting by quadrupling tax liability on evaded wealth; 3. and for any case where Tax Evasion amounted to more than £10,000 a mandatory prison sentence; 4. all corporate Tax Evasion should see the "responsible person(s)" banned from holding executive level positions at any company in the UK for 5 years; 5. any FSS Institution found to be facilitating Tax Evasion to be subject to 2% higher corporate tax for 10 years. Benefits: 1. Overpaying of benefits, either by error or fraud was £3.6 Billion. 2. Underpaying of benefits, that is paying people less then they have a right to, was £3.3 Billion. 3. Net loss of £0.3 Billion, which against the whole Benefits Bill is just 0.1% - effectively a rounding error. All The Best
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Post by patman post on Jun 11, 2024 17:49:11 GMT
Best be like the rest of us Rackham own nothing but debt and they are on a sure-fire loser. Even they cannot take something you don't have. I have zero debt, yes yes yes I know, people say 'everyone has debt', but I assure you I have zero debt. And I pay for most things with cash. I intentionally do my best to keep my 'digital footprint' as small as possible. You may be able to opt out of having your NI number entered into the system by claiming to be a dinosaur.
But after the Post Office debacle, all of us should hope HMRC doesn't install a Fujitsu system as there'll be millions of taxpayers being accused of fiddling.
Alarmingly, Fujitsu is reckoned to be one of the 10 best supercomputer manufacturers...
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Post by Baron von Lotsov on Jun 11, 2024 18:09:01 GMT
I have zero debt, yes yes yes I know, people say 'everyone has debt', but I assure you I have zero debt. And I pay for most things with cash. I intentionally do my best to keep my 'digital footprint' as small as possible. You may be able to opt out of having your NI number entered into the system by claiming to be a dinosaur.
But after the Post Office debacle, all of us should hope HMRC doesn't install a Fujitsu system as there'll be millions of taxpayers being accused of fiddling.
Alarmingly, Fujitsu is reckoned to be one of the 10 best supercomputer manufacturers...
AI takes up a shit load of energy in the way it is performed with current chips.
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Post by sheepy on Jun 12, 2024 5:37:54 GMT
Whether its on computer or youtube, whatever i search then appears on news feeds, and astonishingly on youtube. You cant fart now without rishi sunak knowing, oh, hes monitored too, big brother knows everything. Cameras are everywhere, email is monitored.....or can be, god help us. Demanding money with menaces is what they do, don't earn enough, don't care pay. What about all the stealth taxes, don't care pay. What about all the waste and corruption, don't care pay. What about the zero representation by Parliament, don't care pay. The yanks had the best idea for them refuse to pay them and go to war to get rid of them.
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Post by sheepy on Jun 12, 2024 5:53:59 GMT
You may be able to opt out of having your NI number entered into the system by claiming to be a dinosaur.
But after the Post Office debacle, all of us should hope HMRC doesn't install a Fujitsu system as there'll be millions of taxpayers being accused of fiddling.
Alarmingly, Fujitsu is reckoned to be one of the 10 best supercomputer manufacturers...
AI takes up a shit load of energy in the way it is performed with current chips. Well, the Chinese don't seem to mind, they are producing humanoid robots using AI with even learnt facial expressions, science fiction becomes fact in a lifetime. How the fuck they will manage to tax them might be interesting when they take control.
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Post by steppenwolf on Jun 12, 2024 6:50:05 GMT
The "low hanging fruit" when it comes to fraud are tax evasion by small traders and benefit fraud. And you don't need a supercomputer to find this fraud. You just need to get the DWP investigators to get off their arses and go out and find them. But I suspect that Labour will target the high earners - who mostly hand over their financial affairs to an accountant and pay what's due. There will be some, of course, who are breaking the law but the govt won't find much money here. Yeah, go after the people whose fraud is minimal; never go after the big guys whose fraud heralds decades of austerity. Going after multinational Tax Evasion would benefit the Exchequer orders of magnitude more that going after small traders; but small traders don't fill party coffers with brown envelopes, do they? Likewise the super rich, one super-rich tax evader will be defrauding the Exchequer of more than whole football stadiums of small-traders. All such fraud should be tackled, and punished, but go after the ones causing most harm first. This link is from America, but I am willing to bet the numbers play out roughly the same here in the UK. The report found that as an average "everyone" under-reports taxable income by 4% to 5%. Whereas the top 1%ers were under-reporting taxable income by up to 21%. And this was just from random audits audits of approximately 5% of the top 1% earners. Similar patterns were seen in the Nordic Nations, and of course the Panama Papers showed that not only were UK residents doing the same but that the UK FSS was instrumental in facilitating this huge global tax evasion scandal. There's an easy way to cut through most of this: 1. massively simplify the UK Tax Code, to make it both harder to commit Tax Evasion and easier to detect it; 2. massively increase the penalties for Tax Evasion, starting by quadrupling tax liability on evaded wealth; 3. and for any case where Tax Evasion amounted to more than £10,000 a mandatory prison sentence; 4. all corporate Tax Evasion should see the "responsible person(s)" banned from holding executive level positions at any company in the UK for 5 years; 5. any FSS Institution found to be facilitating Tax Evasion to be subject to 2% higher corporate tax for 10 years. Benefits: 1. Overpaying of benefits, either by error or fraud was £3.6 Billion. 2. Underpaying of benefits, that is paying people less then they have a right to, was £3.3 Billion. 3. Net loss of £0.3 Billion, which against the whole Benefits Bill is just 0.1% - effectively a rounding error. All The Best There are people defrauding the "system" at every level of course, but the high earners, in my experience, usually employ accountant/s to manage their tax affairs. Of course they pay the minimum tax possible but they usually do so within the law - such as by taking their income as capital gains for example. Sunak manages to pay about 20% tax on his millions, whereas most of us pay about 30% in income tax. However my experience of small traders is that most of them offer to do the job cheaper for cash - and some demand cash only. I'm guessing, but I suggest that they do so to avoid tax. And the benefits system in the UK is a joke. If a govt sets up a department to give away money the fraudsters form a long queue, but the chacks on fraud are minimal. That's why they're currently losing about $b billion a year in fraud and error - and that's just what they know about!
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