Criminal charges rise 80% in a year

The number of civil investigations opened by HMRC’s offshore corporate and wealthy (OCW) team has more than doubled in the past year rising from 284 in 2021-22 to 627 in 2022-23 according to information obtained by Pinsent Masons. In addition the number of criminal positive charging decisions filed by the team has risen 80% over the same period from 46 to 83.

This team focuses on large-scale and deliberate tax evasion targeting in particular offshore assets of wealthy individuals such as assets in offshore bank accounts offshore stock market trading accounts and income from offshore property. It has the power to pursue both civil and criminal investigations.

Sophie Warren senior tax manager at Pinsent Masons said: ‘The OCW team is expected to be one HMRC’s biggest weapons in its efforts to meet the new government’s target...