HMRC vows crackdown on offshore tax evasion in Spring Statement

Pedro Gonçalves
clock • 2 min read

The UK has published a policy paper setting out the direction for HMRC's updated strategy for offshore tax compliance, offshore tax compliance strategy: No Safe Havens 2019. In the document, published alongside the chancellor's Spring Statement, HMRC said it will use hefty punishments for those who enable offshore tax avoidance. "We will relentlessly pursue enablers using the new penalty regime for anyone who designs, sells, or otherwise enables the use of a tax avoidance arrangement which HMRC later defeats. Similarly, we will impose new civil penalties on those who deliberately enab...

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