this post was submitted on 12 Oct 2023
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Again a situation in which the rich simply cannot lose. Fraud for 400 million, worst case they βcatchβ you and you have to settle for double, but he could have used that 400 million for years to expand his fortune, now that settlement is still cheap for him. Besides, if they never caught him, he would have had even more.
The only real punishment for these people is taking away their time, i.e jail time.
You're not wrong, but jail time and justice is not what motivates HMRC, or any other revenue department. They want one thing, and one thing only: The money. Putting people in jail costs money, letting rich people 'fess up and pay up is much more lucrative.
Why not both? Pay back 400 million, plus interest and jail time?
I think that interest is added, specifically you pay https://www.irs.gov/payments/quarterly-interest-rates based on the quarters you were missing taxes.
Not sure if the numbers quoted here include that already