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UK Tax Evasion Penalties

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UK Tax Evasion Penalties

New tax evasion penalties have come into force in 2017. The penalties are aimed at advisers who try and help clients to avoid paying tax. The new rules, that have been setup by the government to help stop the tax system being abused, can penalise bankers, accountants, bookkeepers, lawyers and financial advisers with fines up to a maximum of £3,000. The penalties were first announced by George Osborne when he was chancellor and Theresa May stated during her her bid to become Prime Minister she would activley pursue businesses over tax avoidance. During her campaign she mentioned big companies such as Goodle, Amazon and Starbucks in a speech she made, saying businesses "...have a duty to put something back.." and they "...you have a responsibility to pay your taxes...”.

For further details please read the full article at theguardian.com.