UK launches crackdown on offshore tax evasion

By Tom Bergin

LONDON (Reuters) - The UK tax authority has launched a crackdown on offshore tax evasion after it received a leak of data about companies and trusts in Singapore, the British Virgin Islands and the Cayman Islands.

A spokesman said recent analysis of the 400 gigabytes of data involved, in conjunction with the United States' Internal Revenue Services and the Australian Tax authority, had allowed Her Majesty's Revenue and Customs (HMRC) to identify over 100 people who benefited from the structures.

HMRC said the data, most of which was received in 2010, also enabled it identify more than 200 British accountants, lawyers and other advisers who advised on setting up the structures, who would also be investigated.

A spokesman declined to give further detail on the nature of the data or its origin.

Chancellor of the Exchequer George Osborne said the investigation showed the government's commitment to tackling tax evasion and was a warning to those seeking to dodge taxes.

"The message is simple: If you evade tax, we're coming after you," he said in a statement.

(Reporting by Tom Bergin; Editing by Leslie Adler)