HMRC records 25 percent increase in revenue from agreements with tax evaders
News Team, 20/08/2020
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The amount of extra tax collected by HMRC through agreements with tax evaders that give immunity from prosecution increased 25 percent in the year to 31 March 2020 to £119.4 million, up from £95.8 million in 2018/19, according to figures obtained by international law firm Pinsent Masons.
When HMRC believes a taxpayer is evading tax it can offer them an opportunity to enter into a contract under the Contractual Disclosure Facility (CDF). At the same time, a taxpayer who wants to admit tax evasion that HMRC has not discovered can apply to HMRC to make a voluntary disclosure using the CDF.
The CDF gives the taxpayer imm...
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