The net closes in on super rich tax dodgers: Spies expose how hundreds of Britons are 'hiding billions' in foreign tax havens

From: http://www.dailymail.co.uk/news/article-2322212/The-net-closes-super-rich-tax-dodgers-Spies-expose-hundreds-Britons-hiding-billions-foreign-tax-havens.html?ito=feeds-newsxml

Hundreds of ultra-wealthy Britons are being investigated for tax evasion following the exposure of their secret offshore accounts.

International spy agencies are thought to have helped obtain a 'goldmine' of data that names high-profile multi-millionaires and their financial advisers.

The files show how the rich have hidden billions in Singapore, the British Virgin Islands and the Caymans. 

Ultra-wealthy Britons are being investigated over claims they are hiding cash in secret offshore accounts in places like the Cayman Islands (pictured)

More than 100 individuals have been identified so far – and have already been sent warning letters by HM Revenue & Customs.

'You're talking about super-rich people,' said one source, who added that many of the names on the list were well known.

Offenders face paying the tax they have dodged along with massive fines.

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Officials are unsure what sums are at stake but pointed out that a crackdown on millionaires who hid money in Liechtenstein is expected to raise £3billion.

Last night George Osborne said: 'The message is simple: if you evade tax we're coming after you. This data is another weapon in HMRC's arsenal.'

The Chancellor has previously expressed shock at the extent to which the wealthy were exploiting tax loopholes.

Read more: http://www.dailymail.co.uk/news/article-2322212/The-net-closes-super-rich-tax-dodgers-Spies-expose-hundreds-Britons-hiding-billions-foreign-tax-havens.html#ixzz2SsdiSVhL
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