Scotland Identified as a Tax Haven for the Eastern European

Details have emerged that link Scotland with being a tax haven for the Eastern European market following the identification of a century old legal loophole.

Law firms and connected agents in the country have exploited the loophole in order to assist in the creation of shell companies for tax evasion and HMRC investigations purposes.

Following investigations by police and HMRC, a number of properties have been identified across Scotland as being registered addresses for the shell companies. One such property in Leith has more than 3,600 companies registered to the address.

The investigations have also identified a number of cases which have links to alleged corruption scandals in Eastern Europe, particularly former Soviet Union countries.

Following the recent Panama Papers scandal, these developments further highlight how tax evasion and money laundering may have been happening closer to home. The Panama Leaks also uncovered how property in the UK was being purchased by shell companies to hide the origins of the finances for potential tax evasion and money laundering purposes.

Although not illegal, governments across the world have raised moral and ethical issues, particularly if the money used to purchase the properties had been obtained illegally.

We have an experienced team that can assist in cases involving tax evasion or avoidance, and in cases involving a criminal element, such as money laundering. We have assisted hundreds of individuals through HMRC investigations and in making a Enquiry Form< of unpaid tax.

HMRC and the UK government will continue to ramp up pressure on those it believes to have unpaid tax liabilities, whether by innocent oversight (tax avoidance) or by deliberate means (tax evasion).

You can talk to our team in complete confidence and with professional privilege. Call us on 0113 387 5670 or fill out an Enquiry Form on the website and we’ll contact you straight away to discuss your circumstances.