A Freedom of Information (FOI) request has revealed that HMRC has not fined a single ‘enabler’ of offshore tax evasion in five years.
The revelation comes 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.
Commenting on the matter, Dan Neidle, founder of think tank the Tax Policy Associates, said: ‘The never-ending stream of new HMRC powers . . . are pointless if the powers aren’t then used.’
A spokesperson for HMRC stated: ‘We have a strong track record in tackling offshore noncompliance. Since the launch of our ‘no safe havens’ strategy in 2019, we have secured almost £700 million from offshore initiatives.’
21/06/2024
View all >
10/09/2026
Criminalising tax mistakes could hit low-income taxpayers
HMRC’s proposal to make it easier to prosecute taxpayers could have a detrimental impact on low-income unrepresented taxpayers, warns the Low Incomes Tax Reform Group (LITRG).
READ MORE
240 crypto millionaires revealed by HMRC data
Declarations of over £1 million in capital gains from cryptoassets in the 2024/25 tax year were made by 240 individuals, according to data published by HMRC.
Growth outlook affected by weak business investment
The latest economic forecast published by the British Chambers of Commerce (BCC) has revealed that the growth outlook for the UK has been affected by weak business investment.
Sign up to keep in touch to receive our latest news and industry updates.
* *
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.