Offshore tax avoidance and evasion in places like Jersey in the Channel Islands returned to the spotlight after the release of the so-called Paradise Papers OLI SCARFF/GETTY IMAGESThe government hopes to shore up its finances despite a significant downgrade to growth prospects with a renewed clampdown on tax evasion and avoidance. More than 100 measures aimed at curbing the practice were outlined in an overhaul that is expected to raise an £4.8 billion over six years in a boost to the exchequer’s coffers. Revenue & Customs will receive £300 million to hire staff and invest in technology as part of the attempt to pursue tax evasion and avoidance more aggressively. The measures include a requirement for designers of complicated offshore tax structures to notify HMRC of their work and to provide lists of clients to make it easier to hunt down tax evaders. The taxman also could be given the power to…

Source: The Times November 23, 2017 00:03 UTC