HMRC has not fined a single enabler of offshore tax evasion

    Simpson Wood
    31st July 2024
    Home » News Articles » HMRC has not fined a single enabler of offshore tax evasion

    HMRC has not fined a single enabler of offshore tax evasion in five years, data released in response to a Freedom of Information (FOI) request has revealed.

    This is despite HMRC having landmark powers, which were introduced in 2017, to impose hefty fines.

    The data, which was released to the Bureau of Investigative Journalism (TBIJ), suggests that HMRC is failing to target the creators of offshore tax evasion schemes and instead pursues clients of such schemes.

    According to the FOI request, HMRC has not fined a single partnership or company for enabling tax evasion since the change in the law in 2017.

    Michelle Sloane, a tax disputes partner at law firm RPC, said:

    ‘Enablers were and still are a big focus for HMRC. But these figures show their rhetoric on tackling enablers … is clearly not being followed through with action.’

    A spokesperson for HMRC said:

    ‘We have a strong track record in tackling offshore non-compliance. Since the launch of our No Safe Havens strategy in 2019, we have secured almost £700 million from offshore initiatives.’

    Internet link: TBIJ website

    Need Some Advice?

    Looking for some help or a little advice?

    Call today on 01484 534431 or fill in our enquiry form below, and we’ll call you back.

    Tax and accounting bodies back e-invoicing adoption

    The UK’s professional tax and accounting bodies have backed the adoption of e-invoicing in their responses to a government consultation. The Chartered Institute of Taxation (CIOT) says that HMRC will…

    Government warned over ‘lost generation’

    The government should urgently tackle the jobs crisis among young people or it will risk facing a ‘lost generation’, according to the British Chambers of Commerce (BCC). In a report…