Debate House Prices
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Dirty money
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Appalling hypocrisyCameron’s concern is strangely tardy. Some have been screaming about “buy-to-leave” for years. They have been protesting against ludicrously low property taxes and the permitting of towers blatantly aimed at foreign money littering the Thames bank, towers that will stand as lasting totems of the Cameron era. Indulging money-laundering property purchase – coded as “inward investment” – has been government policy under the chancellor, George Osborne, and the London mayor, Boris Johnson.
http://www.theguardian.com/commentisfree/2015/jul/28/cameron-corruption-britain-transparency-property?CMP=share_btn_tw0 -
There are so many stupid hoops to jump through for a normal single citizen
What's being single got to do with it? Don't MLR apply to couples too?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
They'll be buying garages nextLeft is never right but I always am.0
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Surely you didn't sleep through all of those post-lunch compliance talks about money laundering purch? If you suspect someone of trying to launder money you have to report them to your AML Officer otherwise you have committed a crime with a maximum penalty of an unlimited fine and up to 14 years in Sing Sing.
You have to actually be involved in laundering the money to get 14 years - failing to report if you work in a relevant business is only 5 years I think.0 -
Pessimism is rife over here ...
http://www.theguardian.com/commentisfree/2015/jul/28/cameron-corruption-britain-transparency-propertyProudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
Clifford_Pope wrote: »What's being single got to do with it? Don't MLR apply to couples too?Changing the world, one sarcastic comment at a time.0
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chewmylegoff wrote: »You have to actually be involved in laundering the money to get 14 years - failing to report if you work in a relevant business is only 5 years I think.
Let me double check that.
S 334 POCA
http://www.legislation.gov.uk/ukpga/2002/29/section/334
Yes, looks like failure to disclose is five years max. Same with 'tipping off'.0 -
Which is worse: money laundering / tax evasion / benefit fraud / putting money in your pension to be eligible for benefits?Left is never right but I always am.0
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2 final paras of Simon Jenkins' article on breathtaking hypocrisy of David Cameron are actually brillant http://gu.com/p/4b3an/stwAs for London property, the promised transparency may yield a fund of wisdom, but it will not stop the sales. That requires a determined programme of regulation. If rural councils can restrict house sales to local people, so can London. If other cities can curb foreign buying-to-leave, so can London. If New York co-ops can restrict ownership to occupiers or renters, so can London. A London property left unused for a year should simply be sold or let. And it should be properly taxed. This is not about being left or right. It is about a civilised city proofed against corruption.
All such measures were available to Cameron five years ago. He did nothing. They are still available. I suspect he will do nothing but make another speech.0
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