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HMRC issues warning to UK taxpayers of Euro Pacific Bank

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In the past it was possible to pay any fees by Mastercard and VISA.
Maybe it is still possible to pay by card.

MasterCard and VISA payments to whom? The bank is frozen and is pretty much gone. Who will he be paying for the statements? It would need to be the liquidator at best.

I've tried asking Mr Schiff what info HMRC got from EPB. I guess his involvement was limited or maybe he gave info over to authorities to save himself. No one will ever know.
lol.

"I have evidence to suggest you hold at least one account with Euro Pacific International Bank (EPIB). I have reason to believe that large sums of money have passed through your account(s) with this bank, dating back to at least 06 March 2015. My evidence suggests that you have made use of a prepaid card linked to an EPIB account, as well as directly depositing and withdrawing funds from at least one EPIB account.

It does not appear as though you have declared any of this income on your Self Assessment returns across the tax years ending 5 April 2015 – 2022.

I also have reason to suspect that, due to the way this bank operates, at least some of the funds passing through your EPIB account(s) have originated from a foreign country.

I need you to tell me about your involvement with EPIB."

That is very specific information they have on you. This is NOT a generic probe to see if you will spill the beans. They have it all mate when they know you had large amounts and a card etc and they know some of the source was not from UK. That is NO "we know you had an account between x and x" probing type email. That is we have all the data please just confirm our findings by explaining in your own words...damn. They cannot really accuse you outright without you providing your side of events.

They've either got all the info and are giving me a chance to disclose or they are fishing.

They do mate.

My guess is a lawyer will help negotiate a settlement with HMRC.

No chance with the wording of that letter. They have a case file on you and are not phishing here mate. That's a personalised request and not generic phishing letter to all EPB customers.

Which will likely be HMRC's interpretation of what's owed plus a large fine on top.
Yes plus jail sentence as this is multi year evasion with offshore income. As they say for "large sums" - don't intend to scare you but you are looking at jail time.

HMRC maintain their primary policy is to recover unpaid taxes. So they may agree not to prosecute for full compliance with their procedures and payment of monies owed (plus fines).

Unlikely as the whole EPB case is high profile so your name will be put out there as a deterrent to others. This case is being worked on by J5 I believe so US will be involved also and US will be looking at their end. You will be made an example off I fear. You don't file 7 years of deliberate false tax returns (2015-2022) and think you don't go to jail in UK especially when they use the words "large sums". Your lawyer will know exactly what I am talking about.

US side is possible prison [with huge fines] and the prisons there are for profit - full of drugs, crime, murder, rape, and more.

That's Federal prison in US and not state prison as tax evasion would be a federal offense I believe. So far worse. Fines are crazy even for small amounts if he did not file an FBAR.

https://www.bragertaxlaw.com/what-are-the-penalties-for-failing-to-file-a-foreign-bank-accoun.html
----- quote start

What Are the Penalties for Failing to File a Foreign Bank Account Report 90-22.1 (FBAR)?​


Penalties for failure to file a Foreign Bank Account Report (FBAR) can be either criminal (as in you can go to jail), or civil, or some cases, both. The criminal penalties include:

  • Willful Failure to File an FBAR. Up to $250,000 or 5 years in jail or both.
  • Willful Failure to File an FBAR while violating another "law of the United States" or as part of a pattern of any illegal activity involving more than $1000k in a 12 month period. Up to $500k or 10 years in jail or both.
On top of the fines and jail time, the willful failure to file an FBAR is a felony which can result in collateral consequences such as:
  • The loss of the right to vote;
  • Revocation of professional licenses such as those for CPAs, attorneys, and doctors;
  • The loss of the right to bear arms;
  • Loss of employment; and
  • Deportation of a green card holder AFTER jail time has been served.

If the holder of an offshore financial account can successfully convince the IRS that the failure to file the FBAR was not willful, then the penalties would be limited to $10,000 per violation. However, the IRS takes the position that a separate violation occurs for each bank account that is not listed on the FBAR. So for example, if an offshore bank account holder has 6 separate accounts, the FBAR penalties can be imposed for multiple years so that the total of these penalties can easily grow into the hundreds of thousands of dollars.

---- quote end
 
Not good for me then. I only returned to UK as my marriage went tits up. Had a 9 month long battle with depression and alcohol after that ordeal. If I'm looking at jail time and total loss then I may as well just jump. Things just starting to go right for me too. Got a 2 year old and meant to be getting married next year. Oh well, been nice knowing you all

FROM HMRC WEBSITE:​

"When tax fraud does happen

When tax fraud does happen, we have a range of powers and specialist investigation capabilities that enable us to uncover even the most complex and determined frauds and bring the perpetrators to account.

Most of our work to tackle tax fraud makes use of our civil powers. These allow us to get hold of the information we need to identify and collect unpaid tax, while imposing financial penalties on those responsible (up to 200 percent of the tax due in some cases).

In some serious cases of tax fraud, we can use the approach set out in our Code of Practice 9: in exchange for individuals admitting their dishonesty, paying all their tax and significant financial penalties, they won’t face a criminal investigation, which otherwise could be the case."


Choose to interpret how you wish but looks as though you can make an admission, pay your fines and avoid criminal investigations. This is why it's important to take advice from lawyers and not people over the internet or you'll kill yourself before finding out if it is all over.
 
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Not good for me then. I only returned to UK as my marriage went tits up. Had a 9 month long battle with depression and alcohol after that ordeal.

It't not end of world. Your defense can be stronger due to these mitigating factors perhaps.

If I'm looking at jail time and total loss then I may as well just jump.
Don't think like this :confused:. I have been in far worse situations. Speak to your lawyer above all else. Remember HMRC does offer payment plans I believe and mitigating circumstances can play a factor as is your case.

Things just starting to go right for me too. Got a 2 year old and meant to be getting married next year. Oh well, been nice knowing you all

Not worth thinking like this. You want to speak to your lawyer.


P.S Damn your getting married again?
 
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some dudes never learn
Sadly true.

"When tax fraud does happen

When tax fraud does happen, we have a range of powers and specialist investigation capabilities that enable us to uncover even the most complex and determined frauds and bring the perpetrators to account.

Most of our work to tackle tax fraud makes use of our civil powers. These allow us to get hold of the information we need to identify and collect unpaid tax, while imposing financial penalties on those responsible (up to 200 percent of the tax due in some cases).

In some serious cases of tax fraud, we can use the approach set out in our Code of Practice 9: in exchange for individuals admitting their dishonesty, paying all their tax and significant financial penalties, they won’t face a criminal investigation, which otherwise could be the case."


Choose to interpret how you wish but looks as though you can make an admission, pay your fines and avoid criminal investigations. This is why it's important to take advice from lawyers and not people over the internet or you'll kill yourself before finding out if it is all over.

P.S Lol.....this applies only if HMRC have not started "criminal investigation" into you. Your lawyer can find out quickly whether you are one of the EPB clients below where they are under official criminal investigation. If so its a wrap...lol. Should have spoken to a lawyer before you decided to evade taxes ;).

https://www.bdo.global/en-gb/micros...nt-holders-of-euro-pacific-international-bank
 
Sadly true.



P.S Lol.....this applies only if HMRC have not started "criminal investigation" into you. Your lawyer can find out quickly whether you are one of the EPB clients below where they are under official criminal investigation. If so its a wrap...lol. Should have spoken to a lawyer before you decided to evade taxes ;).

https://www.bdo.global/en-gb/micros...nt-holders-of-euro-pacific-international-bank
Revelling in the misfortunes of others is a poor trait...

FYI that account was only used 2016 to 2018 and I can only think of a few "large transaction", one of which was liquidating my personal account in the US and moving it to EPB. Although, who knows what HMRC consider to be large? If HMRC investigate this criminally they'll discover that so it's a single transfer in 2015/2016 I'm worried about. I'm much older and wiser now (comes with being a father) and haven't used that EPB account since 2018 when I returned, nor have I operated anything offshore as I've had no need to. So smarmy advice like "should have spoken to a lawyer before you decided to evade tax" isn't all that helpful.

Can I ask if you used to be a copper?

some dudes never learn

Having a family has brought me more joy than anything material... If HMRC were to offer me a deal, all my money and I don't lose time with them, I'd take it!
 
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Having a family has brought me more joy than anything material... If HMRC were to offer me a deal, all my money and I don't lose time with them, I'd take it!

tbh I aspire to have this life eventually, kudos to you.

coming back to topic; g relax, your lawyer will let you know whats going on and then you can decide accordingly.
Rather this ends with you paying something so they go away, or in Dubai with no extradition.

You aint going to jail
 
tbh I aspire to have this life eventually, kudos to you.

coming back to topic; g relax, your lawyer will let you know whats going on and then you can decide accordingly.
Rather this ends with you paying something so they go away, or in Dubai with no extradition.

You aint going to jail

I don't know your age or situation but I do recommend having a family. My first marriage only failed due to some pretty unique circumstances (l won't get into it here). But if you find a good woman (they are out there) they will bring you contentment (even though it may not always appear so) and kids are something else. If you've ever believed you were in love, times that feeling by 100 and you're still not close.

I've spent several hours reading up on HMRC primarily enabling their civil powers. Some of those who have 'settled" and are on the HMRC public list are in the hundreds of thousands. If HMRC are sensible I should be looking at £50k'ish. Which I'd pay it in a heart beat to avoid jail. If they do prosecute me I'll throw a few hundred grand at lawyers for defence , which will in turn cost HMRC the same or more. So it seems in everyones best interest to settle. I just hope HMRC agree. Wish me luck!
 
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Revelling in the misfortunes of others is a poor trait...

misfortune

mĭs-fôr′chən

noun​

  1. Bad fortune or ill luck.
  2. The condition resulting from bad fortune or ill luck.
  3. A distressing occurrence.

You deliberately filed false tax returns to HMRC for 7 years according to that email so what is misfortune about that? :rolleyes:

Can I ask if you used to be a copper?

No I am not....lol. Just someone who knows right from wrong and can take account for my own decisions. Christos you have been a naughty boy best of luck anyway.
 
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I would read the following article: The day the international tax authorities came knocking.

Security at Euro Pacific was so lax it was hacked numerous times, I would consider the chances of tax authorities having all customer data incredibly high.

Trusting the middleman when the stakes are so high is quite risky. Just so you know Schiffs father died in prison... for tax evasion.

"Mimicking the Five Eyes spy alliance, the Australian "J5" chief Will Day says he and the fellow tax sleuths began searching for snippets of financial intelligence that could open up a “chink in the armour” of secretive offshore banks."

"Day agreed to be interviewed on the condition he would not name any entity or individual. He is very careful. But he confirms the J5 chiefs began hunting for the sort of leaked data that informed the Panama Papers. He also confirms the title of the J5’s biggest investigation: Atlantis — the name of a mythic Greek island."

The surveillance state is growing evermore, underpinning the need for zero-knowledge encryption.
 
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I would read the following article: The day the international tax authorities came knocking.

Security at Euro Pacific was so lax it was hacked numerous times, I would consider the chances of tax authorities having all customer data incredibly high.

Trusting the middleman when the stakes are so high is quite risky. Just so you know Schiffs father died in prison... for tax evasion.

"Mimicking the Five Eyes spy alliance, the Australian "J5" chief Will Day says he and the fellow tax sleuths began searching for snippets of financial intelligence that could open up a “chink in the armour” of secretive offshore banks."

"Day agreed to be interviewed on the condition he would not name any entity or individual. He is very careful. But he confirms the J5 chiefs began hunting for the sort of leaked data that informed the Panama Papers. He also confirms the title of the J5’s biggest investigation: Atlantis — the name of a mythic Greek island."

The surveillance state is growing evermore, underpinning the need for zero-knowledge encryption.
Yes all their employees working from home with a laptop from everywhere in the world. It was a very easy target. And they have their ways to laundry information afterwards. You know how they did it with the Panama papers. Hacking targets and sent it to journalists so they are able to use the information.
 
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Yes all their employees working from home with a laptop from everywhere in the world. It was a very easy target. And they have their ways to laundry information afterwards. You know how they did it with the Panama papers. Hacking targets and sent it to journalists so they are able to use the information.
LE-agencies around the world also buy dubiously sourced data from brokers all around the world. With all the data out there it is trivial to identify people. Heck, just last week I saw a service that can query the Interpol database to check if there is a red notice issued for your name and that is not even a service offered by government.

The mandatory provision of personal data to all kinds of companies is a cancer to the world.

Banks and secrecy are increasingly an oxymoron. If it's digital, it is often not private anymore. The massive unfettered expansion of intelligence services around the world with dubious mandates will make sure 1984 is coming closer every day. In the name of freedom, said the spymaster.

Just imagine what new capabilities our black-suited friends would be able to get their hands on if a war where to start in Europe...
 
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misfortune

mĭs-fôr′chən

noun​

  1. Bad fortune or ill luck.
  2. The condition resulting from bad fortune or ill luck.
  3. A distressing occurrence.

You deliberately filed false tax returns to HMRC for 7 years according to that email so what is misfortune about that? :rolleyes:



No I am not....lol. Just someone who knows right from wrong and can take account for my own decisions. Christos you have been a naughty boy best of luck anyway.

Reading not your strong point?
 
LE-agencies around the world also buy dubiously sourced data from brokers all around the world. With all the data out there it is trivial to identify people. Heck, just last week I saw a service that can query the Interpol database to check if there is a red notice issued for your name and that is not even a service offered by government.

Yeah there are sites where you can find a lot of all the leaked dumps. Obviously nobody should publish such links here. But the data is all there to view online sadly. You can even match people if they are daft enough to use the same username here they used at their banks :(.

Reading not your strong point?

I guess not Christopher :confused:.
 
Yeah there are sites where you can find a lot of all the leaked dumps. Obviously nobody should publish such links here. But the data is all there to view online sadly. You can even match people if they are daft enough to use the same username here they used at their banks :(.



I guess not Christopher :confused:.
Yes, and stuff like this is what makes it even scarier:

https://www.eff.org/deeplinks/2022/...ompany-selling-mass-surveillance-local-police
Zealous bureaucrats who believe they are making the world a better place, operating advanced tools they barely understand (the implications of).

Hard to believe sixty years ago the government was absolutely forbidden from opening your mail yet now most people consider the current state of things normal while proclaiming they have "nothing to hide".
 
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HMRC's elite Offshore unit securing prison time for tax evaders trebled last year.​


--- quote start

HMRC’s elite Offshore, Corporate and Wealthy (OCW) Unit secured convictions totalling 67 years of prison time for tax evaders last year, nearly trebling the total of just 23 years secured a year earlier.

The increase in prison sentences is a sign that HMRC’s strategy of using targeted criminal investigations, rather than just civil penalties, as a powerful deterrent to address deliberate conduct including professional enabling and tax evasion by high net worth and ultra-high net worth individuals is bearing fruit, according to law firm Pinsent Masons.


--- quote end

A BARRISTER who failed to pay £90,000 in tax and lied about his earnings has been given a two-year prison sentence.​


https://www.express.co.uk/news/uk/1...100k-taxpayers-money-hmrc-christopher-wilkins
 
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