HMRC to increase prosecutions

In September 2010, Danny Alexander, the Chief Secretary to the Treasury, announced a five-fold increase in the number of criminal prosecutions HMRC is to undertake to deter people from deliberately evading tax.

HMRC has obtained information on UK residents with offshore assets from a number of banks and may use this information to instigate criminal proceedings for tax evasion.

People who voluntarily approach HMRC to put their affairs in order are normally allowed to settle their affairs via a civil settlement.

It is essential that people concerned about their financial interests outside of the UK seek specialist advice straightaway