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ocds-b5fd17-160437ab-07c1-4727-894b-a5a8073d87a2Published facts
d85ab7cc-6ff8-470f-b5c5-57523d5e43f7-664335HMRC has introduced various offshore penalties over the last decade to deter offshore non-compliance. In that time, HMRC raised over 14,000 offshore penalties in relation to 7,000 cases. However, the introduction of international transparency frameworks such as the Common Reporting Standard (CRS), and the increased ability for HMRC to obtain and share taxpayer data, has changed the landscape significantly. HMRC is increasingly using third party data for nudges and prompts, and trialling sharing data directly with taxpayers and agents. To help assess whether the current penalty regime is still appropriate or would benefit from reform, HMRC needs to understand the impact the regime has on deterring potential non-compliance and incentivising disclosures. The proposed research is intended to address several evidence gaps and will directly inform: 1. Reform of the offshore penalty regime. This may take the form of simplification (up to and including abolition) of the current regime. This research will ensure that the reform process considers the evidence for improving compliance through the offshore penalty regime, rather than simply updating the penalty rules. In turn, this will narrow the tax gap, ensuring that the penalty regime contributes to HMRC's efforts to collect the right amount of tax 2. Operational compliance activity, such as digital nudges and compliance campaigns to encourage customers to disclose unreported offshore income 3. Future communications campaigns to raise awareness of the offshore penalty regime and maximise its deterrence effect
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Award notice observed
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d85ab7cc-6ff8-470f-b5c5-57523d5e43f7-663966Award record updated
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d85ab7cc-6ff8-470f-b5c5-57523d5e43f7-664335Awards and suppliers
Buyer: H M REVENUE & CUSTOMSSupplier: Kantar Public Limited trading as Verian
ocds-b5fd17-160437ab-07c1-4727-894b-a5a8073d87a2-1End dates, recurrence wording and links are shown as they appear in public notices. They do not create a new opportunity. If no later linked record appears here, that means Bidwake did not find one in the records it has loaded; it does not prove that none exists.