TAX-EVASION

 HMRC is unable to answer FOI request on the Lagarde list, writes John Barnett (Burges Salmon). 

Mark Middleditch (Allen & Overy) reviews recent tax developments affecting the City, including the latest proposals on tackling tax evasion and avoidance; the EU’s tax transparency measures; and recent cases illustrating the limits of the purposive approach.

The Treasury has published its proposed next steps on tackling evasion and avoidance. James Bullock (Pinsent Masons) reviews the detail.

Criticism of HMRC’s failure to prosecute HSBC Swiss tax evaders has been quite unfair, writes Jonathan Fisher QC (Devereux Chambers). There are problems with criminal prosecution and the decision to focus on tax collection through civil settlement is the right one. It makes little sense to criminally prosecute these cases.

The contractual disclosure facility (COP 9) is one of HMRC’s most important and cost effective tools in dealing with the more serious cases of tax evasion and suspected fraud. However, HMRC is changing its application in a way that risks reducing its effectiveness, write James Bullock and Ray McCann

Jonathan Levy comments on EU proposals to reduce cross-border red tape

Sjoerd Douma & Bob van der Made, PwC, set out the key proposals.

Reaction from Philip Stephens, John Whiting, Paul Aplin, James Bullock and Catherine McKinnell MP