{"id":63812,"date":"2022-07-12T07:37:51","date_gmt":"2022-07-12T06:37:51","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=63812"},"modified":"2022-07-12T07:37:51","modified_gmt":"2022-07-12T06:37:51","slug":"tackling-tax-abuse-by-the-wealthy-matters","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2022\/07\/12\/tackling-tax-abuse-by-the-wealthy-matters\/","title":{"rendered":"Tackling tax abuse by the wealthy matters"},"content":{"rendered":"

I spend a lot of time criticising the management of HM Revenue & Customs, and for good reason, in my opinion. So, I should give praise when it is due. Yesterday the Guardian noted<\/a> that:<\/p>\n

\n

Former Formula One boss\u00a0Bernie Ecclestone\u00a0will face charges of fraud by false representation after an investigation by UK tax authorities that allegedly found undeclared assets worth more than \u00a3400m overseas.<\/p>\n

The UK\u2019s Crown Prosecution Service (CPS) said on Monday it had \u201cauthorised the charging of Bernard Charles Ecclestone with fraud by false representation, following a [HM Revenue and Customs] investigation\u201d. The investigation was dubbed Operation Gallic by the authorities.<\/p>\n<\/blockquote>\n

I welcome this. Not because it is Ecclestone. I welcome the fact that HMRC is going to prosecute a big case involving a well-known person because this is essential if the right warning signs to encourage compliance are to be sent to others.<\/p>\n

I have no idea whether Ecclestone is guilty or not. I suspect HMRC are very confident given they bring so few such cases. But again, this is not the point: what matters are three things.<\/p>\n

First, this says that tax compliance matters.<\/p>\n

Second, it says that data from offshore is now good enough to be used, and I worked long and hard to help make that happen.<\/p>\n

Third, it says they are going to tax the wealthy - and that is also important in terms of encouraging compliance from everyone else.<\/p>\n

Now I hope they win, having got this far.<\/p>\n","protected":false},"excerpt":{"rendered":"

I spend a lot of time criticising the management of HM Revenue & Customs, and for good reason, in my opinion. So, I should give
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