Aileen Barry and Craig Thomson of Deloitte's Tax Risk & Resolutions team consider the Inland Revenue's approach to offshore tax fraud
The last few months have seen a good deal of press comment on the extent of offshore tax fraud. The undoubted pressure on the Inland Revenue to demonstrate results has intensified following recent coverage of the report of the Public Accounts Committee and its criticisms of the Revenue's investigative efforts. Taken alongside the new money laundering reporting regime there is clearly a political push to ensure that tax crime does not pay. A £66 million resource investment to tackle this issue was announced by the Chancellor in the 2003 Budget and this article will discuss two major initiatives launched as a result. We will also however raise some questions regarding the...
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Aileen Barry and Craig Thomson of Deloitte's Tax Risk & Resolutions team consider the Inland Revenue's approach to offshore tax fraud
The last few months have seen a good deal of press comment on the extent of offshore tax fraud. The undoubted pressure on the Inland Revenue to demonstrate results has intensified following recent coverage of the report of the Public Accounts Committee and its criticisms of the Revenue's investigative efforts. Taken alongside the new money laundering reporting regime there is clearly a political push to ensure that tax crime does not pay. A £66 million resource investment to tackle this issue was announced by the Chancellor in the 2003 Budget and this article will discuss two major initiatives launched as a result. We will also however raise some questions regarding the...
If you are not a subscriber, subscribe now to read this content.
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