100 of UK's richest people concealing billions in offshore tax havens

[InfoSec News <alerts () infosecnews org>]

http://www.guardian.co.uk/politics/2013/may/09/100-richest-uk-billions-offshore-tax-havens

By Rupert Neate and James Ball
The Guardian
9 May 2013

More than 100 of Britain's richest people have been caught hiding 
billions of pounds in secretive offshore havens, sparking an 
unprecedented global tax evasion investigation.

George Osborne, the chancellor, warned the alleged tax evaders, and a 
further 200 accountants and advisers accused of helping them cheat the 
taxman: "The message is simple: if you evade tax, we're coming after 
you."

HM Revenue & Customs warned those involved, who were named in offshore 
data first offered to the authorities by a whistleblower in 2009, that 
they will face "criminal prosecution or significant penalties" if they 
do not voluntarily disclose their tax irregularities, as the UK steps up 
its efforts to clamp down on avoidance ahead of the G8 summit in June.

The 400-gigabyte cache of data leaked to the authorities is understood 
to be the same information seen by the Guardian in its Offshore Secrets 
series in November 2012 and March this year. It reveals complicated 
financial structures using companies and trusts stretching from 
Singapore and the British Virgin Islands to the Cayman Islands and the 
Cook Islands.

[...]


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