TaxWatch published an article in Taxation magazine last week about the launch of the Funding the Nation report by ARC, the union for senior staff within HMRC.
The report identifies changes required to turn HMRC into a world class tax authority after years of underinvestment. It includes contributions from TaxWatch and many others involved in the tax world.
Dozens of news reports are claiming that property billionaire David Reuben, number two on the UK’s Rich List, moved from London to Monaco “this summer”, pushed out by the government’s tax changes and costing the economy millions. But according to official company records and a signed 2024 court declaration obtained by TaxWatch, he’s actually been living offshore since around 2014.
We’re used to thinking of offshore tax avoidance and evasion as an elite, exclusive world of Swiss bank accounts and Caribbean law firms. But increasingly it involves anonymous social media channels and online consultations offering offshore entities set up online in minutes, privacy-enhanced cryptocurrency, and multiple passports. UK regulation hasn’t caught up with this reality.