Off-shore tax avoidance crackdown

A fresh crackdown on offshore tax evasion has been launched after HM Revenue and Customs said it had received data showing "extensive" use of schemes to hide assets.

HMRC is working with the United States and Australia to analyse 400 gigabytes of data showing the use of tax evasion schemes via companies and trusts in territories around the world including Singapore, the British Virgin Islands, the Cayman Islands and the Cook Islands.