|
|
28 Jul 2008
HM Revenue & Customs (HMRC) has offered reduced penalities to people with secret savings in tax havens in Europe and the Channel Islands in an effort to them flush out ahead of legal moves to force 117 foreign and UK institutions to disclose customers’ details.
The Revenue is also targeting 20,000 customers who registered for the first amnesty scheme last year but then failed to come forward with their details. About 64,000 people registered ahead of the deadline in November last year, but only 45,000 made a subsequent disclosure.
In an exclusive interview with The Sunday Times, Dave Hartnett, HMRC acting chairman, said he would call for jail terms for those who did not come forward at last year’s amnesty. ‘Why should we give you a second chance to have a good deal?’ he asked.
HMRC is prepared to prosecute up to 10 tax evaders who have been discovered. It is now pursuing another 15 Liechtenstein banks for money thought to be buried in the principality and is also seeking orders to persuade an initial 25 foreign banks to produce details of accounts held by Britons in the Channel and Virgin islands, Panama and Monaco.
Further reading:
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
Jails are for dangerous people
Hasn't Mr Hartnett heard that our jails are already full to overflowing with violent people who ought to be there?
A six year sentence for a footling little £250k insurance fraud is bad enough, but a jail term just for having a bank account in Jersey? Come off it!
Posted by: Mike, 28 Jul 2008 | 00:00