A team of analysts, tax experts and investigators has come together at the UK’s HM Revenue & Customs as a new unit to crack down on offshore tax cheats.
Date: Dec 8, 2011
A team of analysts, tax experts and investigators has come together at the UK’s HM Revenue & Customs (HMRC) as a new unit to crack down on offshore tax cheats.
Named the Offshore Co-Ordination Unit (OCU), the unit will oversee and co-ordinate HMRC’s compliance work to identify and pursue those who hide income and capital in offshore accounts to avoid UK tax and duties. It will also implement the operational aspects of the recently-signed tax agreement between Switzerland and the UK, which is expected to raise billions of pounds for the UK.
In addition, OCU will look to fully exploit the increasing amount of offshore information at HMRC’s disposal, including bank account data, to use this to tackle offshore tax evasion.
More details: http://nds.coi.gov.uk/clientmicrosite/Content/Detail.aspx?ClientId=257&NewsAreaId=2&ReleaseID=422169&SubjectId=36
