HMRC Criminal Investigation of Global Firm

Published / Last Updated on 09/04/2017

HMRC Criminal Investigation of Global Firm.

HMRC has announced that it has launched, in association with authorities in Australia, France, Germany and the Netherlands, a criminal investigation into money laundering by a Global Financial Institution.

At present, for confidentiality and pending further investigations, no details have been released but given HMRC’s increased remit to investigate corruption and money laundering activities to avoid tax.

Since 2010, HMRC has collected an additional £2.7bn in offshore tax evasion schemes that would not have been paid.

Last year alone, HMRC was awarded an additional £800 million to invest in compliance and tax evasion work and collected and protected a record-breaking £26 billion in what they call ‘compliance yield’ – money that would otherwise have gone unpaid by making sure that we all pay taxes that should have been paid.

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