Britain said on Friday it had launched an investigation into suspected tax evasion and money-laundering by an unnamed “global financial institution” and some of its employees. “The first phase of the investigation, which will see further, targeted, activity over the coming weeks, is focused on senior employees from within the institution, along with a number […]

The UK tax authority’s (HM Revenue & Customs) campaign against tax evasion will be bolstered, from autumn 2017, by a new corporate criminal offence of failing to prevent the facilitation of tax evasion. The offence appears in Part 3 of the Criminal Finances Bill which was introduced into Parliament in October 2016 Under the new […]

The owner of a sham company which the UK HM Revenue and Customs and Excise discovered was not registered for tax, has been jailed for five and a half years for money laundering. The owner and his associate reportedly funneled money from criminal organizations in London and Essex amounting to £5.9 million through this company. […]

Chancellor tells MPs another 43 wealthy individuals are under review as a result of inquiries following Mossack Fonseca leak. Twenty-two people face civil and criminal investigations into suspected tax evasion following the disclosure of the Panama Papers, the chancellor has told MPs. Philip Hammond also said a further 43 wealthy individuals were under review while […]

ON THE 10TH JULY 2016 The UK’s tax authority, Her Majesty’s Revenue & Customs (HMRC), closed its consultation on a new corporate criminal offence: failure to take reasonable steps to prevent tax evasion. The offence The offence will have three stages: Stage one: illegal tax evasion by a taxpayer; Stage two: criminal facilitation of that evasion by a […]

The only substantial sanctions to occur for estate agency AML breaches in the UK were carried out in March 2014 by the Office of Fair Trading. In a swansong episode of enforcement before regulatory responsibility was passed to HMRC in April 2014, the Office of Fair Trading fined three estate agents almost £250,000 for “significant […]

The following HMRC document describes what they intend to do about tax evasion http://bit.ly/1nmICQi As an illustration they provide several case studies such as the following Case study — surveying jail John William Powell, a quantity surveyor from Kenilworth, was sent to prison for two and a half years for failing to pay income tax. […]

On 9 December 2015, HMRC published the summary of responses and set out that the UK government will legislate for: a new criminal offence for corporations that fail to take adequate steps to prevent the facilitation of tax evasion; tougher financial penalties for offshore evaders, including a penalty based on the value of the asset on […]