HMRC Consultation: Tackling offshore tax evasion
HMRC has recently published a consultation looking at extending the scope of penalties for offshore non-compliance. Some of the questions raised include extending the scope of the offshore penalty regime to cover inheritance tax, introducing additional surcharges to apply where offshore assets have been deliberately moved to continue evading tax, extending the 20 year time limit for assessment, and increasing penalties for the number of times assets have been moved.
For further information please see the full consultation.
Date: 28th August, 2014
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