Embattled officials at HM Revenue & Customs (HMRC) have faced further flak for not doing more to tackle offshore tax evasion.<\/p>\n
MPs have criticised the tax authority\u2019s pursuit of those who are failing to pay their fair share, describing the number of prosecutions as \u201cwoefully inadequate.\u201d<\/p>\n
Parliament\u2019s Public Accounts Committee has said that HMRC also needs to be more proactive in gathering intelligence about the amount of money that avoidance schemes cost the Treasury.<\/p>\n
In a report, the committee said: \u201cHMRC should strengthen its capability to investigate offshore tax evasion and make tougher the criminal and civil sanctions it can apply.<\/p>\n
\u201cIt should make clear that those who persist in their attempts to hide assets offshore will face the threat of prosecution, and should in future demonstrate the significance of this threat through its action.\u201d<\/p>\n
It was noted that there had only been 11 prosecutions brought for offshore tax evasion since 2010. Just one of the individuals was on the list of around 3,600 potential tax evaders identified after a list of Swiss bank accounts was leaked to the public.<\/p>\n
Labour MP Meg Hillier, who chairs the committee, said the failure to crack down on tax evasion was a cause for real concern.<\/p>\n
\u201cHMRC must do more to ensure all due tax is paid,\u201d she said. \u201cThe public purse is missing out and taxpayers expect and deserve better.<\/p>\n
\u201cWe are deeply disappointed at the low number of prosecutions by HMRC for tax evasion. We believe it is important for HMRC to send a clear message to those who seek to evade tax that the penalties will be severe and public.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Embattled officials at HM Revenue & Customs (HMRC) have faced further flak for not doing more to tackle offshore tax evasion.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1051"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1051"}],"version-history":[{"count":2,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1051\/revisions"}],"predecessor-version":[{"id":1053,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1051\/revisions\/1053"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}