In the UK have increased penalties

The UK Tax and Duty Administration (HMRC) has warned taxpayers about the proximity of the cut-off date for disclosure of offshore assets.

On 01^st October, 2018 the rules on heavier penalties for undisclosed information about offshore assets will come into. HMRC advises all persons with offshore assets to disclose information about their assets as soon as possible in order to avoid large fines. HMRC will investigate in court the most serious cases of tax evasion.

Currently, HMRC owns a large amount of data on offshore assets and this figure is constantly rising. Most taxpayers have already disclosed information about offshore assets.

At the same time, the Government recognizes that some people even may not realize the obligation to declare their foreign income to HMRC, for example, if they have worked abroad or receiving income from the rental of property outside the UK.

On materials of the following website: https://www.gov.uk/government/news/hmrc-warns-offshore-tax-dodgers