TaxWatch is an investigative think tank shining a forensic light on who pays tax, who doesn’t, and why

Broken offshore promises undermine the UK’s tax system

Broken offshore promises undermine the UK’s tax system

Even after years of attempts at reform, offshore havens still offer secrecy for those determined to hide money and evade tax. In a week when Britain’s Overseas Territories have ignored yet another deadline for functioning ‘beneficial ownership’ registers, new figures on UK tax enforcement stemming from the Pandora Papers show that leaks can’t supplant properly available information about who really owns offshore companies.

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The gap in the Tax Gap

The gap in the Tax Gap

Quietly buried in HMRC spreadsheets released today is the news that the UK Tax Gap is consistently much bigger than HMRC previously said. New evidence suggests that the government may be under-estimating by several billion pounds the amount of income hidden offshore, and non-compliance amongst the largest and wealthiest taxpayers.

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