HMRC tax evasion raids increase

Jun 23
Tax Evasion - PPLI

The UK government are getting very serious about dealing with those who seek to Evade taxes.   

​In 2013, the Government set the Revenue a target to secure 1165 criminal prosecutions in 2014/15 up from 165 in 2010/11.  A massive increase that is apparently receiving a lot of effort and prosecutions are on the rise.

​According to international law firm Pinsent Masons, the number property raids carried out has trebled in the last four years, rising to almost 600 in the last tax year! Raids on property are licenced by a court judge and used to obtain sufficient evidence for a criminal prosecution. 

The total number of tax evaders given a custodial sentence has risen by around 30% over the last four years; from 171 in 2011 to 220 in 2014. 

​Paul Noble, tax director at Pinsent Masons, said: “HMRC is being pressured to increase the number of prosecutions secured for criminal tax evasion and has now been provided with the increased means to do so. “It is pursuing as many cases as possible in an effort to meet targets set by the Government.” 

​If you have nothing to hide and are looking for Tax efficiency combined with Privacy then PPLI can provide a fully compliant solution. It can also provide an almost unlimited Capital Guarantee for those holding longer term cash deposits, particularly important given the wave of bank failures and Bail in legislation now in place.

Contact FTA for more information ​