Osborne sets out new tax evasion clampdown

People who avoid paying tax by stashing money abroad could go to jail under a sweeping new set of regulations. Chancellor George Osborne said there would be "no safe haven" for people evading tax.

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Osborne: 'No more safe havens for those evading tax'

Chancellor George Osborne told ITV News the government is introducing a new criminal offence for anyone who fails to declare their offshore income.

"The message is very simple. If you are hiding your money offshore, we are coming to get you," the Chancellor said.

ITV News correspondent Lewis Vaughan Jones reports:

At the moment officials must prove that a person holding income offshore intended to avoid paying tax - the proposed changes would mean they would only have to show the money was taxable.

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