Evidence is mounting that HMRC may be planning a new Connect spyware assisted series of enquiries into individuals with large private wealth in the UK. Individuals likely to be identified as tax evaders, are those living in areas with the greatest number of concentrated wealthy people such as Nottingham, Cheshire and Edinburgh. Unlike recent amnesty campaigns this push will see …
At the moment those who fail to tell the taxman about inherited offshore assets are treated equally to those who fail to disclose domestic assets.
UK tax evaders have been warned that there is a combined effort aimed at them and other industrialised nations who are part of the G7 group.
To define ‘Due diligence’ a simple way of looking at it is investigating a business and its assets for an acquisition. The term can mean a legal process but often involves a voluntary investigation of the business for sale.
Whilst there are many more to choose from, these are some of the most high profile tax scandals we have seen and reflect a good range of circumstances, from crafty dealings and general negligence to pure criminal behaviour.
HMRC’s estimated tax gap for 2011/2012 has been stated as being £32 billion, up £1 billion from the previous year.
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