Aziz Rahman assesses the reasons why HMRC is yet to bring a charge of failure to prevent tax evasion
With HM Revenue and Customs (HMRC) having never charged any British firm with failure to prevent tax evasion, City AM asked Aziz Rahman for the possible reasons.
Aziz explained that while the offence was introduced six years ago, it can take some time for such cases to “work their way through the system”. He added that there is a possibility that HMRC may have chosen to settle some of the failure to prevent tax evasion investigations using its civil enforcement powers.
Aziz also suggested that a lack of resources could have hampered HMRC.
HMRC has confirmed that while it has not secured any convictions, it does have nine failure to prevent tax evasion investigations ongoing. It is reviewing a further 26 cases for potential investigation and has already rejected 77 other possible investigation opportunities.
The full article can be read here.
