Three tax advisers have been arrested as part of a HM Revenue & Customs investigation into a suspected £132m tax fraud.
The arrests were made after a HMRC investigation into a complex scheme involving offshore trusts used by professional financial advisers to allow UK individuals to avoid around £132 million in income tax.
More than 30 officers searched four residential and one business address during morning raids yesterday in the North West and Midlands. Computers, business and personal records were seized during the operation.
Paul Maybury, assistant director of the fraud investigation service at HMRC, said: “These arrests show we are determined to tackle not only those suspected of tax fraud, but also the professionals who we believe abuse their position of trust to help them do it.
“The vast majority of taxpayers pay the tax they owe, but for those who don’t we will not hesitate to use our full range of powers to ensure that nobody is beyond our reach.”
Three men were arrested during the raid: a 56-year-old from Greater Manchester, a 67-year-old from Derbyshire and a 59-year-old from Warwickshire.
They have been interviewed and released on bail pending further enquiries.
damian.fantato@ft.com
