Five international tax enforcement leaders known as the Joint Chiefs of Global Tax Enforcement or J5, have formed an alliance to combat tax evasion. The J5 includes, the UK, the US, Australia, Canada and the Netherlands. The leaders meet on a yearly basis to collaborate on tackling common tax evasion issues. This year the meeting
The furlough scheme was launched in March 2020 in an effort to minimise job losses during the coronavirus pandemic. Under the scheme, employees will receive 80% of their wages, up to a total of £2,500 a month, off the government. At its peak in May last year, the furlough scheme was supporting 8.9 million jobs.
In recent months, HMRC has been investigating fraudulent Research and Development (R&D) tax relief claims. In November 2020, HMRC arrested three men involved in a fraudulent tax relief claim for £29.5 million. Through one of the individual’s companies, the three men tried to acquire tax relief on £137 million, for the purposes of developing a
The Corporate Criminal Offence (CCO) legislation was introduced in September 2017 to help prevent the facilitation of tax evasion in businesses. The legislation holds corporations liable if they fail to prevent anyone acting on behalf of their company from facilitating tax evasion. Facilitating tax evasion is a criminal offence and is subject to sanctions. CCO
