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Tax Fraud and Confiscation Simon Farrell QC 3 rd October 2014

Tax Fraud and Confiscation Simon Farrell QC 3 rd October 2014. The MTIC story 2000-2006 The cost to the UK The early MTICs and the ever expanding circles Contra trading and double contra trading The summer of 2006 The appeals in the Tribunal

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Tax Fraud and Confiscation Simon Farrell QC 3 rd October 2014

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  1. Tax Fraud and Confiscation Simon Farrell QC 3rd October 2014 • The MTIC story 2000-2006 • The cost to the UK • The early MTICs and the ever expanding circles • Contra trading and double contra trading • The summer of 2006 • The appeals in the Tribunal • The criminal prosecutions egEuripus and Devout

  2. Tax Fraud and Confiscation Simon Farrell QC 3rd October 2014 • The issue in the First Tier Tax Tribunal • The focus is on the broker/exporter • The Kitteltest • T. “knew or ought to have known” that the transaction was connected to a tax loss • Features of the trade

  3. Tax Fraud and Confiscation Simon Farrell QC 3rd October 2014 • The changing focus of the criminal prosecutions • Buffers and brokers • The limited number of cases prosecuted • Disclosure issues/difficulties • The high success rates

  4. Tax Fraud and Confiscation Simon Farrell QC 3rd October 2014 • Criminal confiscation and tax fraud • The issues in section 76(4) POCA and 76(7) • What has D “obtained as a result of or in connection with his criminal conduct” and what is the value • The overkill in the Ahmad case - £184.6 million • Tax loss of £12 million • Benefit of co-defendants £90 million each

  5. Tax Fraud and Confiscation Simon Farrell QC 3rd October 2014 • The solution in the Court of Appeal [2012] 1WLR 2335 • The Ahmads had obtained the tax loss £12 million each • Proportionality • Ahmad in the Supreme Court judgement June 18th 2014 • The confiscation “cap” • Enforcement

  6. Tax Fraud and Confiscation Simon Farrell QC 3rd October 2014 • Confiscation where are we now ? • Paulet ECHR 13th May 2014 • R v Sale [2014] 1 WLR 663 (CA) • Bestel and others [2014] 1 WLR 457 • Barnes v Eastenders Cash and Carry [2014] 2 WLR 1269 • R v Harvey [2014] 1 WLR 124 (CA) • Hidden assets • Reform

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