UK Plans to Enhance Fight against Tax Avoidance

UK Plans to Enhance Fight against Tax Avoidance

The UK is going to collect additional revenue at the amount of GBP 4 bln (about USD 6.5 bln) from active crackdowns on tax avoidance opportunities this year.

The UK Treasure announced that the government's aim was to get an additional GBP 7 bln a year in revenue from anti-tax avoidance activity by 2015, using more than GBP 900 mln to fund that activity.

The Treasury indicated three main types of tax avoidance and outlined the steps taken by the government to combat each of them. Within the UK the government will focus on the UK's high worth individuals.  Besides, public sector workers are no longer paid in a way that potentially enables them to pay too little tax. The similar rules to be introduced for the companies doing business with the government. The government will release more details regarding the above measures later this year.

As for the use of overseas tax avoidance schemes, the UK Treasury warned that the government would find them and ensure that they pay their "fair share". It is planned to double the size of the UK anti-avoidance team working on Liechtenstein for it can triple the UK’s tax derived from the Liechtenstein Disclosure Facility, which offers a time limited opportunity to those with unpaid tax linked to investments or assets in Liechtenstein to settle their tax liability with the UK.

© 1997—2014 DS Express, Inc

84, Spyrou Kyprianou, 

2nd floor, Limassol 4004


tel +357 25 731-042


11 Solzhenitsyna Street

Moscow 109004 Russia

tel +7 495 956-1727

fax +7 495 234-0735

15 Kreshchatik Street, office 149

Kyiv 01001 Ukraine

tel +38 044 237-2222

fax +38 044 278-6714


52 Angliyskaya Emb., office 28

St.Petersburg 190000 Russia

tel +7 812 570-1564

fax +7 812 325-723

More contact details and office maps can be found in the section Contacts

© 2015 DS Express Ltd  All rights reserved