Our site uses cookies

I agree Our site saves small pieces of text information, called “cookies” on your device. Find out more in our cookie policy. You can disable the usage of cookies by changing the settings of your browser. By continuing to browse the site you are agreeing to our use of cookies.

Tax evasion could land you behind bars soon.

Let us be clear from the start: tax evasion has always been illegal - but it could soon become a criminal offence, not just a civil one.

HMRC's offshore evasion strategy No Safe Havens defines offshore tax evasion as 'using a non-UK jurisdiction with the objective of evading UK tax. This includes moving UK gains, income or assets offshore to conceal them from HMRC; not declaring taxable income or gains that arise overseas, or taxable assets kept overseas; and using complex offshore structures to hide the beneficial ownership of assets, income or gains.'

Go to Spear's Wealth Management Magazine to read the rest of Fiona Pool'e views on this subject.

Related Expertise

Private Wealth

Related in brief posts

The Court of Protection and the vaccine: to administer or not to administer

The Court of Protection and the vaccine: to administer or not to administer - Nicola Boulter considers two recent Court of Protection decisions.

No-one expects a 1975 Act claim......

Two decisions under the Inheritance (Provision for Family and Dependants) Act (enabling a spouse/civil partner and others, to bring a claim if a Will fails to make reasonable financial provision for that person) have produced very different results.

MEET | THE | EXPERTS: A Taxing Time or Time for Tax

March sees the launch of the Treasury Committee’s report ‘Tax after coronavirus’, Budget Day and a later release of tax related consultations and calls for evidence. Join our experts at 11am on 24 March to see how these developments may affect you.