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BUDGET 2010: Govt announces new measures to combat tax evasion

The Government has announced additional measures to combat tax evasion which will bring an additional £0.5bn tax each year and protect £4bn in revenues by 2012-2013.

In the Budget today, Chancellor Alistair Darling announced the Government is ready to sign three new tax information exchange agreements with Dominica, Grenada and Belize.

Following the consultation launched in the pre-Budget report, the Government will legislate to ensure that those who fail to declare income and gains will face tougher penalties of up to 200 per cent of the tax due.

The UK has already signed an agreement with Liechtenstein, which Darling said will bring in around £1bn of extra revenue.

Darling said: “I am determined to continue our successful drive to prevent avoidance and evasion.”

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. not before time, i’ve been reporting tax dodgers for years and revenue not bothered their back sides

  2. this rule will apply to MPs as well I din t think

  3. Best Start with his own lobbyists then!

  4. Well I am enjoying my cocktail on the Beach …. and happily NOT paying tax !!! So come and get me 🙂

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