HMRC takes record £560m haul from undeclared offshore assets

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HMRC takes record £560m haul from undeclared offshore assets

The UK's tax collection service HM Revenue & Customs (HMRC) collected more than £560m from offshore tax investigations in 2018/19 tax year - up 72% since new Common Reporting Standard (CRC) were introduced two years ago, according to the latest statistics. The CRC rules - brought in after 2016/17 which means that more than one hundred countries are now automatically sharing financial information on taxpayers' wealth to expose tax evasion - with ax authorities - including the UK - starting ...

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Gary Robinson

Commercial Director, Head of Video at International Investment.