eBay Suspended & PayPal Limited Forums - HMRC to extned powers further

"The government has now announced its intention to legislate to extend access to two similar sorts of data to help tackle the hidden economy. These changes will apply to data held by:

Electronic payment providers - businesses that perform a similar function to merchant acquirers by handling monetary transactions, but not necessarily in relation to credit and debit cards (increasingly these transactions are online and take different digital forms); and,
Business intermediaries - these businesses can take many forms, for example, allowing customers to make orders, purchases or reservations, relating to goods, services or digital content. Again, these businesses increasingly operate on digital platforms."

any thoughts on would such bulk data collection could mean for stealth?:boink:

wired

08-05-2015 04:04 AM

Re: HMRC to extned powers further

IMO, it will only matter for Stealth if PayPal and Ebay get in bed with the HMRC, which won't happen, due to their own tax evasion antics...unless the HMRC requests a court order for access, but still then a lot of investigation and court orders to gain access to find out who a Stealther really is.

Haidukken

08-05-2015 04:32 AM

Re: HMRC to extned powers further

HMRC always has and always will try to get their little piggy fingers in every single pie out there. Thats what they do, thats what they get paid to do- Nothing new there.

If you look at current financial regulations situation across the world, then you really shouldn't be surprised in fact that HMRC and IRS try to get as much data as possible. 2015 taxes are much more complicated to hunt down than they were back in 1810.

They want data not only because they need to track individuals, but because they need as much as possible on the big corporations- My tax and yours are literally like a single drop into the ocean. Its the big ones that they are after, the corporations themselves, not the customers who deal with the corporations.

If they can see the belly of the beast, they can figure out a way how to "reform" or change the law so that they could tap into the beast financial circulation like a tick.

dan_ebay

08-05-2015 01:04 PM

Re: HMRC to extned powers further

lol just words. I could find them 10 people dodging 200k a year+ in tax in 2 minutes. Only need to check feedback ratings on ebay,see no vat number and go knock on their door

manwithaplan

08-05-2015 02:30 PM

Re: HMRC to extned powers further

Quote:

Originally Posted by dan_ebay (Post 692319)

lol just words. I could find them 10 people dodging 200k a year+ in tax in 2 minutes. Only need to check feedback ratings on ebay,see no vat number and go knock on their door

Quite right mate doesn't take Einstein to work it out does it

richie2065

08-05-2015 02:59 PM

Re: HMRC to extned powers further

I have assumed and this is following media releases that they are only after the major players that sell thousands of items a day and fail to declare any or all of their income
Plus HMRC have always been massively understaffed so they will be limited to what they can investigate..IMO

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