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HMRC noose closes ever tighter around tax evaders

Her Majesty’s Revenue & Customs will soon have yet another tool to root out tax evasion and tax avoidance in its crusade towards stamping out fraud.

A new campaign, launched by Chancellor George Osborne, has been announced in order to bring the UK into line with the G20 efforts to plunder offshore tax havens for the cash that should be rightly paid into the Treasury’s coffers. The British response coincides with a global standard that’s being adopted by more than 40 countries, with more signing on all the time, which means the roll-out of the scheme will be swift and forceful.

Luckily, contractors and other self-employed Brits will have nothing to worry about provided they declare all income. However if any of them neglect to comply with the role there are some hefty punishments: not only could you be hauled away to jail, you could end up having to pay what you owe plus a penalty of up to twice the amount you have outstanding.

In other words, it’s time to stop mucking about when it comes to tax avoidance, because HMRC has simply stopped playing and taken off its kid gloves. Honestly it’s nice to see the Government taking offshore tax shelters seriously for once, considering how much of the money that multinational companies – or particularly well-paid executives of these multinationals – simply funnel their cash overseas, essentially thumbing their noses at the tax authority with what they think is complete impunity. It’s bloody infuriating, especially when small business owners end up having to shoulder the increased tax burden.

So no, I have no sympathy for anyone who gets caught out by this new programme. Anyone who’s been engaging in these activities has been making life positively hellish for everyone involved, all the while thinking that they were completely untouchable. Never mind the fact that they will whinge about how they haven’t done anything technically illegal – they know as well as you and I do that it’s damned unethical and they shouldn’t be doing it in the first place. Well, now they’ll get what’s coming to them – and I simply can’t wait to watch the fireworks.

Do I sound a bit gleeful? It’s because I am. I know it’s not exactly gentlemanly but I’m past caring at this point. Ruddy bastards.

 

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