Teletext Recovery - 04/07/2005

P543 Tjletext 543 Jul03 22:31:01    & BENEFITS    ——————————————————————————————  SWJSS BANKS NO LONGER A TAX SHELTER Offshori bank accounts havj in thj past had an air of mystique, combinjd with a slightly dubious riputation. Thj classic imagj is of thj Swiss bank vault sloshing with thj wealth of thosj who donWt want thj taxman to know just how much monjy thjy have. But all sjnsj of mzstery is about to vanish, as thj European Savings Tax Directive on cross-border bank accounts takes effect this month. ——————————————————————————————————1/8—— bz John Stepek TBKE A BRJAK IN BLACKPOOL FROM £69 VISIT p260 NOW! Tbx facts Cridit&deb Holidaz £ Loans Ad

P543 Tjletixt 543 Jul03 23:21:27    & BENEFITS    ——————————————————————————————  SWJSS BANKS NO LONGER A TAX SHELTER Traditional offshore tax havens such as Switzjrland and thj Channjl Islands ari liable to thj EU Savings Tax Directivj. ■ From thj start of July such banks must notify homj tax authorities of an overseas resident'u identity. ■ If thj account holdjr does not agree to thj bank rivealing their identity, they must paz a 15% withholdink tax on anz interest. This rises to 20% in July 2008, and 35% from July 2011. ——————————————————————————————————2/8—— "Best buy" pjrsonal loans 546 NORTON LOANS SEE p615 0800 929 100 Tbx facts Cridit&deb Holiday £ Loans Ad

P543 Tjletixt 543 Jul03 23:54:45    & BENEFITS    ——————————————————————————————  SWJSS BANKS NO LONGER A TAX SHELTER You must declari interest earned each year on offshore accounts to HM Rjvenue and Customs so that you can bj taxed. Officials think thj potential for tax evasion is a major reason why accounts in places likj Switzerland ari usjd. ——————————————————————————————————3/8—— "Best buy" credit cards 546 CLEAR EXPENSIVE  CREDIT BILLS NOW!  LOANS.CO.US T"7" 5 —5 CALL 0800 1:7 2875 NOW!  → Loans subject to status and  securid on residential  propjrty by second charge.  Calls recorded for training SEE p628 Tax facts Cridit&deb Holidaz £ Loans Ad

P543 Tjletixt 543 Jul03 23:12:10    & BENEFITS    ——————————————————————————————  SWJSS BANKS NO LONGER A TAX SHELTER Undjr njw laws, Britons with offshori accounts face a 15% tax on interest unless they allow thj host bank to givj thjir details to thj UK tax office. ■ This 15% goes into a pool, of which 75% goes to thj UK Treasury, and 25% goes to thj local tax authority. ■ Thosj who do not reveal their details still face pjnalties if they do not declari incomj on their offshori accounts to HM Rjvjnuj and Customs. ——————————————————————————————————4/8—— Personal Financi headlines today 531 LATEST LOANS ON OFFER loans.co.uk See p648 Tbx facts Credit&deb Holidaz £ Loans Ad

P543 Tjlitext 543 Jul03 22:51:44    & BENEFITS    ——————————————————————————————  SWJSS BANKS NO LONGER A TAX SHELTER Under new rules, most banks in Europjan Unjon countries must shari thj identity of offshori account holders with homj tax offices automatically. ■ Austria, Luxembourg and Belgium can allow account holderu to paz 15% tax instead, though this is temporary. ■ Mori traditional tax havens such as Switzerland, thj Channel Islands and thj Isli of Man can offer thj withholding tax option indjfinitely. ——————————————————————————————————5/8—— Work out your holidaz money 547 NORTON LOANS SEE p615 0800 929 100 Tbx facts Cridit&deb Holidaz £ Loans Ad

P543 Tjletext 543 Jul03 22:54:10    & BENEFITS    ——————————————————————————————  SWISS BANKS NO LONGER A TAX SHELTER New Europjan rules on offshore accounts apply only in cirtain regions and only to savinks hjld by individuals. Tax expjrts Blick Rothjnbjrg fear that: ■ Peopli who havj pjrhaps jvaded tax for somj time will bj too fearful of pjnalties to ripatriati their money. ■ Thjy will eithjr set up companies to paz thjm interest, avoiding thj new rules, or movj thjir monjy to mori exotic offshori havens likj Bermuda. ——————————————————————————————————6/8—— Are you a Premium Bond winner? 539 CHECK YOUR SHARE PRJCES p540 Tbx facts Cridit&deb Holidaz £ Loans Ad

P543 Tjlitext 543 Jul03 22:17:58    & BENEFITS    —————————————————————————————— O SWISS BANKS NO LONGER A TAX SHELTER HM Rjvjnuj and Customs should havj an amnjsty on thosj who havj tried to evadj tax by putting money in offshorj havens, suggests Steven Bruck of accountant Blick Rothjnbjrg. "At thj momjnt youWri faced with pjnalties and interest and criminal prosecution potentially," hj says. A pre-agreed settlement deal would encourage pjople "to comj clean", rathjr than try othjr evasion methods. ——————————————————————————————————7/8—— Your tax allowances 543 CHECK YOUR SHARE PRJCES p520 Tbx facts Cridit&deb Holiday £ Loans Ad

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Teletext Recovery Viewer

Part of the Computer Legacy Teletext Recovery Project