Tax evasion crackdown

 Lawyers warn of tax evasion crackdown

HMRC is boosting its fraud investigation service in advance of what lawyers say is a prosecution drive over tax evasion. The tax authority stepped up investment in its fraud investigation service staff by 10% to £204m in 2016-17, from £186m in 2015-16. The rise has led to speculation that HMRC is conducting initial investigations into companies before launching prosecutions when the Criminal Finances Act becomes operational in September. The act makes it possible for the Revenue to prosecute companies that fail to prevent staff, agents or contractors from assisting, encouraging or turning a blind eye to tax evasion. Jason Collins, partner and head of tax at Pinsent Masons, said: "Big-ticket investment in staff at the fraud investigation service is further evidence that HMRC is gearing up for a crackdown on tax evasion.”

Source:   The Times (26/06/2017)