HMRC Reluctant To Use New Dirty Money Powers
Law360, London (April 1, 2019, 8:57 PM BST) -- Britain’s tax authority is failing to make use of a new key weapon in the U.K.’s fight against dirty money, a freedom of information request made available Monday revealed.
HM Revenue and Customs has not made any applications for unexplained wealth orders, or UWOs — which compel an individual suspected of wrongdoing to hand over information on assets worth a minimum of £50,000 ($65,600) — since their introduction in January 2018, according to the results of an FOI request that were shown to Law360.
The U.K government has been pressing the agencies that investigate and prosecute white collar crime to produce...
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