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New statistics show £300m lost to offshore tax gap on over 7million accounts held overseas likely to be gross underestimate

New statistics show £300m lost to offshore tax gap on over 7million accounts held overseas likely to be gross underestimate

by Claire Aston | Oct 24, 2024

  £300 million tax lost to non compliance by UK resident individuals on offshore accounts in 2018-19 This figure appears to be a gross underestimate, definitely excluding any assets held through companies, and the treatment of assets within trusts isn’t clear...
New statistics show £300m lost to offshore tax gap on over 7million accounts held overseas likely to be gross underestimate

Are we nearly there yet? In search of the elusive offshore tax gap

by Claire Aston | May 15, 2024

Multiple delays to the publication of the offshore tax gap statistics, now a full year late TaxWatch had to use FOI powers to discover that the new date for this work is now June 2024 (gov.uk still shows Autumn 2023) Data on which this will be based is from CRS...
Use of disguised remuneration avoidance schemes more than doubled after Loan Charge

Use of disguised remuneration avoidance schemes more than doubled after Loan Charge

by George Turner | Dec 7, 2021

New analysis shows that the number of users of disguised remuneration schemes has increased dramatically despite government attempts to legislate against the schemes Criminal investigations against promoters remain a rarity, with no successful prosecutions being...
The Diverted Profits Tax and Tackling Offshore Promoters of Tax Avoidance

The Diverted Profits Tax and Tackling Offshore Promoters of Tax Avoidance

by Alex Dunnagan | Dec 1, 2021

The Finance Bill 2021-22 was published earlier in November, legislating for tax changes announced at the Autumn Budget. This briefing focuses on two aspects of the bill, amendments to the Diverted Profits Tax and measures relating to the promotion of tax avoidance...

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