HM Revenue & Customs (HMRC) has begun a probe into more than 200 advisers, lawyers and accountants suspected of using offshore trusts to illegally evade UK tax.
The investigation covers offshore jurisdictions including Singapore, the British Virgin Islands, the Cayman Islands, and the Cook Islands. HMRC has acquired a cache of 400 gigabytes of data, which it will be studying further in hope of bringing charges against those involved. "The message is simple: if you evade tax, we're coming after you," said Chancellor George Osborne. "The government has invested hundreds of millions of pounds to fund the fight against tax evasion, both at home and abroad. This data is another weapon in HMRC's arsenal." HMRC commissioner Jennie Granger said...
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