Speed Read: The OECD-inspired attack on tax havens and those who use them to evade their tax obligations continues to be supported vigorously by HMRC. The new penalty provisions in FA 2010 s 35, Sch 10 increase that pressure with the introduction, at a date yet to be specified, of significantly increased penalties for making inaccurate returns, for failing to notify liability and for failing to make returns. These penalties can be as high as 200% of the tax lost, depending on the transparency of the banking system in the jurisdiction where the undisclosed income arises.