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HMRC suspects that the practices of at least 23 of the 2 100 largest businesses in the UK may involve elements of tax evasion according to Pinsent Masons.
The 23 businesses were referred to HMRC’s tax evasion referral teams to determine whether a civil investigation should be launched or criminal referrals made to HMRC’s fraud investigation service.
In addition files on about 250 wealthy taxpayers were passed to the tax evasion referral teams last year as HMRC continues its crackdown on those with undeclared income from offshore assets.
Andrew Sackey partner at Pinsent Masons said: ‘For large corporates that do find themselves in the tax tribunals for alleged evasion the reputational risks are substantial … It is not just big businesses that will be facing more scrutiny in the years ahead – hundreds of wealthy taxpayers are also having their tax affairs reviewed by the evasion...
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