article_snippet: Treasury officials believe £5billion can be raised from a crackdown on tax avoidance and evasion on top of the £12billion annual welfare saving.
article_snippet: One scheme – used by collapsed delivery firm City Link – allows companies to escape corporate and national insurance tax by employing companies workforce as freelance sub-contractors. '
article_snippet: Mr Osborne is planning heavy penalties on tax advisers, including the big accounting firms, banks and others that set up and promote tax avoidance scams.
article_snippet: Changes in the tax regime will make Changes in the tax regime unlawful for individuals or companies to raise new debts solely for the purpose of writing off the interest payments on that debt against tax.
article_snippet: The budget will herald the final closure of the loopholes that allow companies and individuals to hide companies and individuals tax affairs in secretive overseas jurisdictions.
article_snippet: So far more than 90 countries – including Switzerland, Luxembourg and the British crown territories such as the Caymans – have signed up to a convention that requires So far more than 90 countries – including Switzerland, Luxembourg and the British crown territories such as the Caymans – to be fully transparent and hand over the details of tax residents to HMRC.
highlights_snippet: Officials believe £5billion can be raised from tax avoidance crackdown .
  