RegulationLegalAdvisers arrested in suspected £132m tax fraud investigation

Advisers arrested in suspected £132m tax fraud investigation

Three tax advisers have been arrested as part of a HMRC investigation into a suspected £132m tax fraud.

Advisers arrested in suspected £132m tax fraud investigation

THREE tax advisers have been arrested as part of a HMRC investigation into a suspected £132m tax fraud.

The arrests were made as a result of a HMRC investigation into a complex scheme involving offshore trusts used by professional financial advisers to facilitate UK individuals to avoid around £132m in income tax.

More than 30 officers from HMRC searched four residential and one business address during morning raids on Tuesday (21 June) in the North West and Midlands. Computers, business and personal records were seized during the operation.

Paul Maybury, assistant director, fraud investigation service, HMRC, said: “These arrests show that we are determined to tackle not only those suspected of tax fraud, but also the professionals who we believe abuse their position of trust to help them do it.”

A 56-year-old from Greater Manchester, a 67-year-old from Derbyshire and a 59-year-old from Warwickshire were arrested, HMRC said.

The three men have been interviewed and released on bail pending further enquiries.

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