Business

Advisers helping tax evasion face fines

British currency
Image caption The government will be able to publicly name firms and individuals who help tax evaders

Accountants, bankers, lawyers and advisers who assist with tax evasion will be hit with fines as part of a crackdown on the practice.

They will face fines of up to 100% of the total they helped evade or £3,000, whichever is the highest.

The government will also be able to publicly name culprits who enable tax evasion or help move money offshore.

The powers were announced as part of the 2015 Budget and will come into force on 1 January.

Financial Secretary to the Treasury Jane Ellison said the government has led reform of the international tax system to root out tax evasion.

She added: "Closer to home we are creating a tax system where taxes are fair, competitive and paid.

"The raft of measures we have introduced to tackle avoidance and evasion will create a level playing field for the vast majority of people and businesses who play fair and pay what is due."

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