Darling to launch tax evasion clampdown in Budget

Kashflow logo
2

The chancellor is expected to announce plans that will close the net on those evading tax in some of the least co-operative tax havens.

The Budget machine is firmly in motion this week with predictions emerging left, right and centre, but one of the most recurring forecasts is that Alistair Darling will launch a series of measures designed to clamp down tax evasion.

According to a report in today’s Financial Times, the maximum penalty for offshore tax evaders is expected to be doubled to 200% of the tax owed in a clampdown on those caught evading tax in the least co-operative tax havens such as the Turks and Caicos islands.

A Whitehall official told the newspaper: “These people with large bank balances who are hiding money offshore should be running scared of this announc...

Please Login or Register to read the full article

The full article is available to registered AccountingWEB.co.uk members only. To read the rest of this article you’ll need to login or register. Registration is FREE and allows you to view all content, ask questions, comment and much more.

Gina Dyer
Deputy Editor
Sift Media
Share this content

Replies

Please login or register to join the discussion.

avatar
23rd Mar 2010 17:35

Hang on

we go from Tax evasion to tax avoidance. There is a difference you know.

Please tell me how we go from off-shore tax evasion (illegal) to Andrew Hubbard's tax avoidance income shifting(legal as proved by the House of Lords).

Ah yes, if people see the two together they might think that they are one and the same.

Thanks (0)
avatar
24th Mar 2010 13:53

Two cheap and easy ways to reduce tax evasion...

reduce the number of MP's and force those remaining to declare all their financial activities to an independent body.

Thanks (0)