The campaign, which comes on the back of strong political commitment to tackle global evasion following agreements reached at the recent G20 meeting in Australia, will run in national newspapers and weekly magazines
The UK has already entered into information-sharing agreements with its Crown Dependencies and Overseas Territories. It will also move quickly to implement the new global standard for the automatic exchange of tax information on a multilateral basis.
So far 42 countries and jurisdictions have joined this initiative which will lead to the rapid embedding of the new global standard and the removal of hiding places for tax evaders as HMRC uses new information to clamp down on tax evasion.
Jennie Granger, HMRC’s director general for Enforcement and Compliance, said that the tax office is getting more and more information that is helpful in targeting offshore tax cheats more effectively than ever before.
‘If you have assets offshore you need to get in touch with us urgently, because we will catch up with you. That can mean a fine of 200% of the tax that you owe, and the possibility of criminal prosecution and a prison sentence,’ said Granger.