FIRST AIRED: August 17, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

World

UK clamp down on tax avoidance 'peddlers'

Opening sequence

Opening sequence

World

UK clamp down on tax avoidance 'peddlers'

0:00
17:54
More Info

COMING UP:UK clamp down on tax avoidance 'peddlers'

×

Transcript

00:00:00
>> It doesn't matter if you are Amazon, Google or Starbucks, you must pay tax. The opening salvo from Theresa May just before becoming prime minister. One month into the job and she's already taking aim. Her government setting out plans on Wednesday to punish accountants and advisers who tell their clients how to avoid paying tax.
00:00:21
The proposals include hefty fines according to Reuters UK political correspondent Will James.>> It's saying that basically the people who enabled these tax avoiders will be liable to have to pay the amount that they helped the people avoid. And if you're a big company and you come up with a tax avoidance scheme and you sell it to 100 people.
00:00:41
These fines actually as it stands, they're just proposals but it could mean that you end up being fine for every single person that you solve that scheme to. So the fine's gonna add up.>> Producing legal tax avoidance and illegal tax evasion has become a big part of efforts to balance Britain's public finances.
00:00:59
Theresa May also came to respond to voter outrage are perceive injustices in the tax system.>> Tax avoidance, tax evasion is something that really gets under the skin of the British public. They really hate it and for that reason it becomes a political priority to try and resolve it or at least to be seen to be acting to do something about it.
00:01:20
>> The proposals come after the government set up a new task force to investigate allegations of tax dodging in the wake of the Panama papers. That scandal saw more than 11 million documents leaks from the world's fourth biggest offshore law firm. And revealed how the rich and powerful hide their wealth.