Cash for snooping - just say No
Wednesday, July 30th, 2008I have reached a personal tipping point over Government interference in my affairs. I have just received a letter from the firm of solicitors which has had my business for more than 20 years telling me it is required to perform some electronic search to identify that my wife and I are who we say we are.
No doubt you, like me, are wearily used to the requirement to provide some form of photo ID and a utility bill for this purpose, but this latest letter mournfully informs me it will have to charge ‘£4 plus VAT for every search into an individual name plus £8 for a company name plus a charge for individual searches against all beneficial owners who hold a minimum of 25% shares in the company, a charge which regrettably we shall have to pass on to you.’
This is supposed to be in relation to money laundering regulations. That is clearly a smokescreen. The more likely purpose is to feed the income tax people’s insatiable desire for information about individuals. What other purpose can be served by demanding the name and details of anybody who has 25 per cent of any company?
Well, they and whatever Government department has introduced this can get stuffed. I can’t stop them doing searches and have nothing to hide but I’ll be damned before I pay for them.
I suspect that over my 20 year involvement with this law firm I must be responsible for earning it at least £100,000 in fees. Not only that, I am or have been a shareholder and/or director of several companies in which the recently-retired senior partner has also been a shareholder and member, all of which have been declared to the Inland Revenue on an annual basis. It knows who I am, where I live, my business and private affairs. They can positively ID me.
And to show how bloody stupid all this, one member of the firm blew his stack when he had to go through this rigmarole to confirm the identity of a particular client. Not surprising, as the client was his brother.
I urge everybody who receives such a demand to refuse to pay up. If law firms find they are having to do this for nothing they will soon let the Government know it is not on. After all, whichever party is in power, the biggest and most powerful group is always the lawyers.