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
Articles from this Author
1st November, 2018
Budget 2018 - Changes for businesses
22nd October, 2018
Making the most out of your home? Rent a room relief
3rd May, 2018
Tax changes for non-resident corporate landlords
4th April, 2018
EMI options - a current risk
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole