Tax Avoidance Schemes – The Ugly Face of Creative Accounting

1. Tax Avoidance Schemes – The Ugly Face of Creative Accounting a. How it works. “Itsascam” strips £40million from it’s staffing costs budget and donates the sum to a trust, registered in Jersey, called, “Itsmyturn”. The entire payment is tax-deductible. “Itsmyturn” transfers the £40million to another Jersey registered but British tax-resident company called, “Menowok”. “Menowok”Continue reading “Tax Avoidance Schemes – The Ugly Face of Creative Accounting”