For the last 20 years, successive UK governments have clamped down relentlessly on the offshore tax gap. The UK now has some of the most far reaching and sophisticated offshore anti-avoidance legislation and some of the most draconian financial penalties for offshore related wrongdoing.

The days when UK citizens could avoid tax using contrived offshore arrangements are over.  What is more, with global information exchange agreements such as the Common Reporting Standard the days when UK residents could simply hide income generating wealth from the taxman with impunity in numbered offshore investment accounts are long over too.