Osborne to target tax evasion at Budget 2015

George Osborne has vowed to use next month’s Budget to clamp down on tax evasion and potentially those who advise how to go about the unlawful practice.

Facing questions in the House of Commons about allegations that HSBC facilitated evasion, the chancellor tried to shake them off by saying he would take action on March 18th.

“Ahead of the Budget, I set the Treasury to work on providing further ways to pursue not just the tax evaders, but those providing them with advice”, said Mr Osborne.

His comments appear to allude to a proposal by Danny Alexander, chief secretary to the Treasury, who wants to impose penalties on parties who actively facilitate tax evasion.

Indeed, officials have been “considering [the proposal] for the purposes of the Budget,” said Mr Osborne, who told inquisitive MPs they “will have to wait” to see if it he adopts it.

Even if he doesn’t, he warned evaders “Unlike the previous government, who simply turned a blind eye, this government are taking action now and will do so again at the Budget.”

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Written by Simon Moore

Simon writes impartial news and engaging features for the contractor industry, covering, IR35, the loan charge and general tax and legislation.
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