HMRC issues zero fines to offshore tax enablers in five years despite new powers
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HMRC has failed to fine any enablers of offshore tax evasion in the five years since landmark powers were introduced to do so, an investigation has revealed.
Despite UK government claims that the laws would “create a level playing field” and potentially raise millions in fines, figures obtained by The Bureau of Investigative Journalism show no fines have been issued.
This lack of action comes amid a growing tax gap, estimated at £36 billion for 2021-22, and criticism that HMRC isn’t effectively tackling tax avoidance and evasion. Both major UK political parties have pledged to raise billions by cracking down on tax dodging to fund key manifesto pledges.
Experts have described the lack of fines for enablers as “bizarre” and questioned the government’s commitment to tackling offshore noncompliance.
A spokesperson from HMRC said: “We have a strong track record in tackling offshore non-compliance.
“Since the launch of our No Safe Havens strategy in 2019, we have secured almost £700 million from offshore initiatives.”
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