Many constituents are contacting me about a vote in the House of Commons to close the Mayfair Tax Loophole. In his recent Alternative Economic Plan, Danny Alexander laid out plans that go even further than the amendment being asked about.
Measures to deal with tax dodging would include:
- Introducing a new strict liability criminal offence for offshore evaders so that pleading ignorance can no longer be used in an attempt to avoid criminal prosecution.
- Introducing a new offence of corporate failure to prevent tax evasion of the facilitation of tax evasion. This would stop organisations from being able to get away with facilitating or abetting others to evade tax.
- Increasing financial penalties for offshore evaders - including, for the first time, linking the penalty to underlying assets. A billionaire evading £5m of tax won't just be liable for that £5m.
- Introducing new civil penalties so that those who help evaders will have to pay fines that match the size of the tax dodge they facilitate. So if you help someone evade £1m of tax, you risk a penalty of £1m or even more yourself.
-Extending the scope of HMRC to name and shame both evaders and those who enable evasion.
So if you are serious about dealing with this gross injustice we can deal with this together by voting me as your Liberal Democrat MP on 7 May.