You are here: Home - Household Bills - News -

HMRC hunt identifies more than 100 tax evaders

0
Written by:
10/05/2013
A joint investigation by the UK, the US and Australia to identify those using offshore tax havens to hide wealth has uncovered more than 100 people.

Her Majesty’s Revenue and Customs (HMRC) said some of these were already under investigation for tax evasion, the BBC reports.

It said it has obtained large quantities of documents which reveal those, along with professional advisers, who may be involved.

Evasion is illegal, tax avoidance is not.

The hunt was sparked by a joint investigation by the BBC’s Panorama programme, the Guardian newspaper and the Washington-based International Consortium of Investigative Journalists.

HMRC is working on the material, which it describes as 400 gigabytes of data, with the tax authorities in the United States and Australia.

So far HMRC has pinpointed more than 100 people from the information, whom it says benefited from using offshore havens such as Singapore, the British Virgin Islands, the Cayman Islands, and the Cook Islands to hide their assets.

More than 200 UK accountants, lawyers and other professional advisers will also be scrutinised.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Friday newspaper round-up: Japanese Yen, Banks, UK recovery

Yen drops to four-year low against the dollar; Cameron admits coalition is confused on advice to banks; Britain's recovery is...

Close