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 >
26/08/2026
Prime Minister urged to reverse IHT changes at Autumn Budget
Prime Minister Andy Burnham has been urged to reverse changes to Inheritance Tax (IHT) at the upcoming Autumn Budget.
READ MORE
UK inflation increases to highest rate in four months
The UK rate of inflation has risen to 2.9% - its highest level in four months.
Data shows UK economy grew between April and June
The UK economy grew by 0.4% between April and June, official data has revealed.
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.