Whistleblowers who alert the authorities to massive tax fraud could receive millions of pounds as a reward, it can be revealed.
For the first time, informants will get compensation relative to the amount of money clawed back by the taxman.
If the ‘tax take’ totalled hundreds of millions of pounds after a successful probe then whoever raised the alarm would be in line to pocket millions.
The radical plan, inspired by similar schemes in the US and Canada, aims to crack down on high-value tax fraud and avoidance by major firms and wealthy individuals.
It will be announced by a Treasury minister in a speech to mark the 20th anniversary of the merger of Inland Revenue and HM Customs and Excise to form HMRC.
Exchequer Secretary James Murray will also set out new efforts to tackle the scourge of ‘Phoenixism’ - where rogue directors repeatedly dissolve their firms to avoid paying bills then start them up again under new names.
Whistleblowers who help uncover massive tax fraud may be rewarded millions of pounds under new plans to be unveiled today (file photo)
Exchequer Secretary James Murray will also set out new efforts to tackle the scourge of ‘Phoenixism' where rogue directors dissolve their companies to avoid paying bills
Loopholes in company registrations will be closed while more investigations will be launched into unfit directors, under the new action plan (file photo)
Under the action plan, loopholes in company registrations will be closed while more investigations will...
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