HMRC fires final 200% tax warning to offshore evaders

From 6 April, penalties for offshore non-compliance for income and capital gains tax will be linked to the tax transparency of the country involve. There will be increased penalties in place for under-declared income and gains from territories which do not automatically share tax information with the UK. As a result, evaders face being taxed at 200% on undeclared money from as early as next week. David Gauke, exchequer secretary to the Treasury, says: "Time is running out for anyone going offshore to evade tax. Get your tax affairs in order." Dave Hartnett, permanent secretary f...