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Tax returns don't tell whole story

Published 14/04/2016

The idea everything is fine now after a few politicians published their tax returns appears to be uncritically accepted.

Our tax returns only show the amount declared as earnings to HMRC. Income generated on the black economy, illegally, or in offshore trusts and accounts will not appear on declared income.

One of the reasons for "offshore" is to hide earnings from the taxman. The City will be rubbing its hands with glee as it continues to play chess while our politicians and media play by the rules of draughts.

SEAN O'DONOGHUE

By email

Belfast Telegraph

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