PARLIAMENTARY WRITTEN QUESTION
Revenue and Customs: Foreign Companies (15 December 2020)
Question Asked
To ask the Chancellor of the Exchequer, what HMRC's policy is on using companies registered in tax havens.
Asked by:
Navendu Mishra (Labour)
Asked by:
Navendu Mishra (Labour)
Answer
HMRC’s standard contract terms and conditions prohibit the use of any arrangements involving the use of offshore companies, or other offshore entities, whereby the main purpose is to achieve a reduction in United Kingdom tax of any description. Failure to meet such requirements may constitute a ‘Supplier Termination Event’, allowing HMRC to terminate the contract with the supplier.
Answered by:
Jesse Norman (Conservative)
11 January 2021
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