UK and International Tax news
Consultation On Tackling Offshore Tax Evasion
Wednesday 29th July 2015
HMRC has recently announced four consultations as part of its publication ‘Tackling Evasion And Avoidance’, which takes forward its strategy for tackling offshore evasion ‘No Safe Havens’. An update on this strategy was published in April 2014. The four consultations are:
Strengthening civil deterrents for offshore tax evaders
Civil sanctions for enablers of offshore tax evasion
A new corporate criminal offence of failure to prevent the facilitation of tax evasion
A new criminal offence for offshore tax evaders
These consultations give further detail on how the options above will work in practice and seek feedback on their reasoning, structure and effect. HMRC is interested to hear from tax and legal professionals, those involved in offshore investments, and those who may be affected by the new proposals.
The consultations close on 8 October 2015.
If you would like further information on the above, please contact Keith Rushen on 0207 486 2378.Contact Us