Tax Evasion Assistance – Changes in the Law
24th March, 2017New rules which came into effect on 1 January 2017 will see professionals who deliberately aid clients to evade (not avoid, which is legal) tax saddled with penalties of the higher of £3,000 or 100 per cent of the tax they helped their client evade. 'Tax-geared' deterrents for professional firms have been in place for many years in the USA. The new UK tax evasion penalties will apply if the adviser provides advice, planning or other professional services that facilitate tax evasion, including transferring funds offshore for a tax-evading client....