{"id":1274,"date":"2016-04-18T11:58:54","date_gmt":"2016-04-18T11:58:54","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1274"},"modified":"2016-04-18T11:58:54","modified_gmt":"2016-04-18T11:58:54","slug":"hmrc-opens-consultation-into-corporate-tax-evasion-laws","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/hmrc-opens-consultation-into-corporate-tax-evasion-laws\/","title":{"rendered":"HMRC opens consultation into corporate tax evasion laws"},"content":{"rendered":"<p>In the wake of the so-called Panama Papers scandal, HM Revenue &amp; Customs (HMRC) has launched a consultation into tax laws for corporate businesses, in a bid to crack down on tax evasion.<!--more--><\/p>\n<p>HMRC has reviewed draft legislation published in December 2015 with plans to introduce a new \u2018inadequate preventative measures\u2019 offence, which will cover both UK and overseas tax evasion.<\/p>\n<p>The taxman\u2019s consultation document, which will run until 10 July, puts forward the argument that the current legislation demands too high a level of proof in Court to effectively charge companies and corporates for tax evasion carried out by themselves or their employees.<\/p>\n<p>The new proposal hopes to change this by encouraging internal checks and increased reporting responsibilities.<\/p>\n<p>Under the new legislation, it will be deemed an offence for any corporate to fail to take \u2018adequate measures\u2019 to prevent employees from either committing, or assisting in, tax evasion.<\/p>\n<p>The news follows the recent controversy of the Panama Papers scandal, in which leaked information from law firm Mossack Fonseca revealed numerous offshore tax havens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the wake of the so-called Panama Papers scandal, HM Revenue &amp; Customs (HMRC) has launched a consultation into tax laws for corporate businesses, in a bid to crack down on 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\/1274"}],"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=1274"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1274\/revisions"}],"predecessor-version":[{"id":1275,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1274\/revisions\/1275"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}