UK tax crackdown — fines to rise to three times the evaded amount: In a consultation exercise that will run until October 19, HM Revenue & Customs seeks to increase fines for tax evaders who do not voluntarily come forward to pay their dues on offshore finances. Starting in October, the U.K. government will start to receive information on British citizens’ accounts in Crown Dependencies and overseas territories.”
“HMRC said tax dodgers would be charged up to three times the amount of the tax they attempt to evade and could also face criminal charges. To allow those with outstanding taxes to pay and legalize their positions, HMRC will open its Worldwide Disclosure Facility from September 5.”
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