New Tax Evasion Offence Would See Firms Fined

Organisations that fail to prevent tax evasion would be hit with stiff fines under a new crackdown, the Chief Secretary to the Treasury has proposed.

Lib Dem Danny Alexander wants to create a new offence of "corporate failure to prevent an economic crime".

He said the plan would see organisations that encourage tax evasion or make such a practice easier to carry out face the same level of fine as the evaders themselves.

Mr Alexander said he would try to make progress on the idea before May's General Election, but if he can't, then it will become a key part of the Lib Dem manifesto.

He told the BBC's Andrew Marr Show: "Organisations, be they accountants, banks or whatever, who help people evade tax will be liable for this new offence and crucially liable for financial penalties.

"So, for example, if their customers have to pay back hundreds of millions of pounds in tax then those organisations should have to match that with hundreds of millions of pounds of their own money and I think that's a very tough disincentive to them to get involved in this in the first place.

"This is taboo.

"This is something that absolutely mustn't happen in our society and we still have a problem with some people thinking they can get away without paying their fair share of tax."

The party said their plan also includes a commitment for the Government to see the "tax gap" - the difference between the tax owed to the Exchequer and the amount collected - fall every year.

Codes of practice for tax advising professions would also be strengthened, the party said.

Mr Alexander later added in a statement: "These new measures will build on the successful strategy that is making tax evasion as socially unacceptable as benefit fiddling or drinking and driving."

Labour's Chris Leslie said nobody would believe Mr Alexander's "warm words" as his party has "broken their promises on tax".

Mr Leslie, who is shadow chief secretary to the Treasury, said: "Along with the Tories, they have totally failed to tackle tax avoidance and cut taxes for millionaires while raising VAT on families and pensioners.

"The amount of uncollected tax has gone up by £3bn under Danny Alexander and George Osborne.

"This Government has refused to close loopholes which Labour has highlighted.

"And ministers still need to explain why there has been just one prosecution out of 1,100 names in the HSBC case and why the head of the bank was made a Tory minister."

Labour would carry out an immediate "root and branch" review of HM Revenue and Customs to make sure it is "up to the job", Mr Leslie added.

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