The fight against tax havens was worth it

Error message

  • Deprecated function: The each() function is deprecated. This message will be suppressed on further calls in _menu_load_objects() (line 579 of /var/www/drupal-7.x/includes/menu.inc).
  • Deprecated function: implode(): Passing glue string after array is deprecated. Swap the parameters in drupal_get_feeds() (line 394 of /var/www/drupal-7.x/includes/common.inc).
Published by Anonymous (not verified) on Sat, 09/04/2022 - 6:28pm in

Back in 2o12 I leaked to the International Tax Review that the UK was finally going to crack down on the absence of tax transparency in its tax havens. The story is here.

Why did I get the leak? Because I had spent years before then working to shatter the secrecy in those tax havens that was used to help tax cheats. This blog was called Tax Research UK back then. for a good reason: that was most of what it was about.

Yesterday the FT reported that:

The number of people who admitted not paying tax on their overseas assets to the UK tax authority jumped by more than a third last year, prompted by warning letters sent by HM Revenue & Customs.

They added:

A freedom of information request revealed that 4,443 people confessed to not paying enough tax on their foreign assets to HM Revenue & Customs in 2021-22. The figures were 35 per cent higher than the 2020-21 year, when 3,301 individuals admitted failing to meet their tax obligations on foreign assets.

As they noted, £56.9 million was raised as a result.

None of that would have been possible in political-economic terms without the work of a very small group of tax justice campaigners back then, of whom I was one.

I am delighted we succeeded because remember that not only was this recovered, but vast amounts were legitimised as a result as well.