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HMRC introduces new strict liability offence for offshore tax evasion

byCustoms Today Report
21/03/2015
in Uncategorized
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LONDON: HM Revenue & Customs has introduced a new strict liability criminal offence on both offshore tax evaders and those who help them following the UK Government’s clampdown on tax dodging in yesterday’s Budget.

Under today’s new rules, tax evaders will no longer be able to plead ignorance in order to avoid criminal prosecution.

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Danny Alexander, chief secretary to the Treasury, said: “If people help a burglar, they are accomplices too. Now it will be the same for those that help tax evaders”.

It has also introduced new civil penalties on those who enable evasion so they will face the same penalty as the evader, and will publicly name and shame both evaders and those who enable it.

Additionally, the UK tax office has also increased the financial penalties faced by evaders, and will for the first time link the penalty to the value of the asset kept in an offshore bank account.

We’re making sure the penalties on those that facilitate evasion are large enough to punish and deter,” added Alexander. “As well as action to crack down on offshore tax evaders through a tough new disclosure scheme, the Budget included new penalties and reporting requirements to tackle persistent tax avoiders.”

LONDON: HM Revenue & Customs has introduced a new strict liability criminal offence on both offshore tax evaders and those who help them following the UK Government’s clampdown on tax dodging in yesterday’s Budget.

Under today’s new rules, tax evaders will no longer be able to plead ignorance in order to avoid criminal prosecution.

Danny Alexander, chief secretary to the Treasury, said: “If people help a burglar, they are accomplices too. Now it will be the same for those that help tax evaders”.

It has also introduced new civil penalties on those who enable evasion so they will face the same penalty as the evader, and will publicly name and shame both evaders and those who enable it.

Additionally, the UK tax office has also increased the financial penalties faced by evaders, and will for the first time link the penalty to the value of the asset kept in an offshore bank account.

We’re making sure the penalties on those that facilitate evasion are large enough to punish and deter,” added Alexander. “As well as action to crack down on offshore tax evaders through a tough new disclosure scheme, the Budget included new penalties and reporting requirements to tackle persistent tax avoiders.”

Tags: tax

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