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HMRC Consultation on a criminal offence for tax evasion

HMRC has issued a second consultation document on offshore tax evasion with the possibility of turning non compliance into a criminal offence.

The consultation raises questions as to which taxes should be covered; just income and capital gains tax, or other taxes as well?  Should there be a de minimis threshold?  Should there be an unlimited financial penalty through the courts?  Do you agree that failure to declare offshore income and gain is sufficiently serious that a custodial sentence could be justified?  If so, should this be capped at six months?   There are also questions on defences and impacts. 

For full details please see the full document.

 

 

Date: 29th August, 2014
Author: Cathy Corns

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