Member Info for Sharetrader123

Bhargav never mind about OMI, I have a feeling you are going to be seriously in the red yourself once the taxman catches up with you.

Vic, tax avoidance is a serious issue and we have one board member here who is arrogant enough to think he can boast about never paying any tax whatsoever on his share dealings and get away with it.

Https://www.lbc.co.uk/news/money/government-cash-whistleblowers-expose-tax-avoidance-fraud/

Kerl despite him still giving it the big one, he's screwed.

Bhargav so over the last few years how much taxable profit have you made from your dealings. I'm asking because there is a new tax fraud reporting line where the reward is 25% of the tax owed.

Bhargav working cash in hand would be hard for the HMRC to prove. Avoiding tax on profits from shares however would be relatively easy for them to trace. The fact you boasted and put it in writing would make it even easier.

Karl it's either ego or arrogance. Either way by his own admission he owes a hefty amount of tax. Even if he declared it now then I doubt he would be shown any leniency due to never attempting to pay over such a long period of time. They could also impose further actions and not just what is owed.

Will he now do the right thing and confess to the HMRC?

He's screwed. He openly boasted online about never paying any tax on his profits.

We know he made a huge amount on GGP so must owe a hefty amount of tax.

It wasn't your Aliases bragging about not paying tax it was you. We know you made many folds on GGP and didn't put any of them in ISAs so how many folds did you make on GGP and exactly how much tax have you avoided paying.

Bhargav not only self admittedly avoiding tax but now avoiding my question on did you make a mistake, were careless or purposely haven't paid the tax?

The HMRC can go back and check 4 years for genuine mistakes only but then go back

6 years for carelessness

And then 20 years for deliberate avoidance. So would you class your admittance of not paying as a mistake, carelessness or deliberate ?

No allegations. You openly boasted that you have never paid any taxes on your share dealings. We know you made huge profits on GGP and have not declared anything.

Bhargav the board has been much better without you and your alias Johnstoneo. I hope you have used your abcense to declare any capital gains tax you owe to the HMRC.

Moo, if you have a share dealing account then a copy of your dealings are sent to the HMRC who rely on you to inform them if any profits that you make affect your capital gains allowance. The HMRC do not have the resources to vet everything and rely on you being honest in filling in your own returns, however if you are caught not complying then they can go back and check 4 years for genuine mistakes but can go back up to 6 years for carelessness and then 20 years for deliberate avoidance. The penalties can be very severe so I wouldn't like to be anyone who has chosen deliberately not to pay tax on their share dealings

Wolf, surely once the Aeromag survey is complete and targets can be identified. Also some road access might have to be created for any future drill sites.

Dr, didn't I read somewhere that they were hoping to bring Pepas to a resource by the end of this year?

Bhargav you might owe the Inland revenue so much that you might have to also leave them a tip.

Nice one Karl. There's nothing wrong in repeating that someone has never paid any capital gains tax when they have written it openly on social media.

Many posters still do not realise that copies of their share dealing accounts are sent to the HMRC.

From 1 January 2024, platform operators within the scope of the rules in the UK will collect and report information on their sellers to HMRC.

The HMRC rely on individuals being honest and declaring their capital gains but do not obviously have the resources to track everyone so some may fall through the net and get away with it but the penalties would be severe for those who purposely avoid taxes and are then stupid enough to then brag about it on social media platforms.