Serious tax evasion up

HMRC experienced an 8% increase in serious tax evasion cases for 2015/16, according to legal firm Pinsent Masons, as the government department referred an additional 3,000 suspected instances for specialist investigation. The law firm suggested that the figures represent how HMRC is under “continued political pressure” to clamp down on aggressive tax avoidance and evasion. Interestingly, HMRC investigations into high-value companies it suspects of using transfer pricing to avoid tax has fallen by 15% in a year, according to UHY Hacker Young. The number has slumped from 450 in 2013/14 to 391 last year, as HMRC is witnessing a decrease in the number of companies that use aggressive methods to mitigate their UK tax bills. 8.7.16