By Harry Wilson
The government hopes to shore up its finances despite a significant downgrade to growth prospects with a renewed clampdown on tax evasion and avoidance.
More than 100 measures aimed at curbing the practice were outlined in an overhaul that is expected to raise an £4.8 billion over six years in a boost to the exchequer’s coffers.
Revenue & Customs will receive £300 million to hire staff and invest in technology as part of the attempt to pursue tax evasion and avoidance more aggressively.
The measures include a requirement for designers of complicated offshore tax structures to notify HMRC of their work and to provide lists of clients to make it easier to hunt down tax evaders.