Labour MP calls for tax avoidance law change

Thu, 16 Nov 2017

A Labour MP is calling for the British Government to crack down on tax avoidance schemes like those highlighted in the recent Paradise Papers publication.

The Isle of Man was one of a number of offshore financial jurisdictions listed in the papers as helping politicians, celebrities and companies reduce their tax payments.

Dame Margaret Hodge led a debate on the papers, urging the UK Government to bring in new laws to prevent such activity.

The MP, who was chairman of the Commons Public Accounts Committee in Gordon Brown's Government, wants companies to be taxed based on where they make their profits and a public register of property ownership to be introduced.

She hoped new measures will be announced by the UK Treasury in next week's budget.