LONDON: More than 100 UK millionaires have been identified as tax dodgers after hiding their wealth using offshore schemes.
Documents in the Paradise Papers leak show the identities of taxpayers who moved assets worth tens of millions of pounds into companies in Mauritius.
The tax avoidance schemes involve them claiming to no longer own property, cash and investments in order to keep their fortunes out of reach of HMRC. It appears many of them use the companies like personal bank accounts. This allows them to continue to enjoy the benefit of their hidden riches.
