The Office for Budget Responsibility said the measures to collect tax from tax evaders who use tax havens such as Jersey, Guernsey and the Isle of Man would raise just £270 million, rather than the £1.05 billion which had been trumpeted (a £780 million shortfall).
The OBR is quoted by the Mail:
“HMRC is less optimistic about how much of the lost yield can be recouped through additional compliance activity, on the basis that they are unlikely to be able to work the higher number of additional cases on top of existing workloads.”As ever HMRC will focus on the low hanging fruit.
Tax does have to be taxing.
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