HMRC launches bid to locate offshore tax evaders

The government has launched an advertising campaign targeting taxpayers with money hidden in offshore accounts.

The launch of the campaign follows a shared commitment by the G20 group of finance ministers to tackle global tax avoidance and evasion through agreements at a meeting in Australia over the weekend. Chancellor George Osborne warned any taxpayer who failed to declare all of their income will have to pay the tax itself as well as penalties of up to twice that sum, and could even face imprisonment. Last May, HMRC began a probe into more than 200 advisers, lawyers and accountants suspected of using offshore trusts to illegally evade UK tax. This campaign is targeting all taxpayers. Osb...