header-logo header-logo

Taxing matters

08 August 2014 / Peter Vaines
Issue: 7618 / Categories: Features , Tax
printer mail-detail
commercial_tax_vaines

Peter Vaines on strict liability criminal offences from Mars, punitive penalties & disguised salaries

HMRC has published a guidance note entitled No Safe Havens 2014. It has caused a lot of trouble. However, the substantive document looks wholly uncontroversial—indeed it seems to be an excellent summary of how HMRC gains access to information on offshore accounts, making it pretty clear that if you have an offshore account, they will find it—and when they do, there will be serious consequences with penalties up to 200% of the tax evaded.

Of course, there should be criminal penalties for people who evade taxes; that is a crime and should be appropriately punished. So why has it caused trouble? It is because in the foreword there is a sentence which says that the government will introduce a new strict liability criminal offence that could mean jail for those who do not declare taxable offshore income.

The two offending words are “strict liability” so that you are guilty even if there was no intention to commit

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Gibson Dunn—London partner promotions

Gibson Dunn—London partner promotions

Firm grows international bench with expanded UK partner class

Shakespeare Martineau—six appointments

Shakespeare Martineau—six appointments

Firm makes major statement in the capital with strategic growth at The Shard

Myers & Co—Jess Latham

Myers & Co—Jess Latham

Residential conveyancing team expands with solicitor hire

NEWS
One in five in-house lawyers suffer ‘high’ or ‘severe’ work-related stress, according to a report by global legal body, the Association of Corporate Counsel (ACC)
The Legal Ombudsman’s (LeO’s) plea for a budget increase has been rejected by the Law Society and accepted only ‘with reluctance’ by conveyancers
Overcrowded prisons, mental health hospitals and immigration centres are failing to meet international and domestic human rights standards, the National Preventive Mechanism (NPM) has warned
Two speedier and more streamlined qualification routes have been launched for probate and conveyancing professionals
Workplace stress was a contributing factor in almost one in eight cases before the employment tribunal last year, indicating its endemic grip on the UK workplace
back-to-top-scroll