Ten ways HMRC is catching tax cheats
7 Jul 17
Recent high-profile wins against tax evaders prove that when it comes to cracking down on tax dodgers, HMRC is serious about stepping up not only its surveillance but also about finding innovative ways of catching out tax cheats. Here are some the methods the UK tax office employs.
Data leaks have proved invaluable for tax authorities around the world looking for cheats. One example is football legend Christiano Ronaldo who was recently charged with evading €15m in tax via offshore shell companies. Spanish prosecutors found the information using the ‘football leaks’ documents, released by a consortium of 12 European newspapers.
A far bigger data stash emerged in April 2016, when details — known as the Panama Papers — were leaked from a Panamanian law firm, shedding light on some of the structures used to mask offshore tax evasion and economic crime.
In response, the UK government set up a multi-agency task force to investigate and identify any financial wrongdoing by UK taxpayers, with 22 individuals now under investigation for suspected tax evasion.
Tags: Beneficial Ownership | CRS | HMRC | Tax Evasion
