Don't Let Redknapp Verdict Fool You

This verdict should not bring false hope to tax evaders. If anything, it will make HMRC more tenacious than ever in tracking down and prosecuting suspects. They will go after every Tom, Dick or Harry in pursuit of unpaid taxes.

HMRC are determined to tackle tax evasion and will pursue suspected perpetrators – even to the point of criminal charge and trial – regardless of their background or status; no-one is above the law. Indeed, the high profile nature of the case demonstrates how keen HMRC were to make an example of Redknapp, as a deterrent to any would-be tax dodgers.

A key factor in HMRC’s pursuit of Redknapp stemmed from his failure to disclose all of his accounts, having signed a certificate of full disclosure following a previous tax investigation. Taxpayers are strongly urged to disclose all accounts, including any overseas accounts which may even be dormant, to avoid the threat of investigation by the taxman.

Tax evasion is a serious issue which costs the UK economy £69.9 billion per year; however, it is important to distinguish this from legitimate tax avoidance techniques, such as the use of ISAs and pension plans through to remuneration and profit extraction planning, which can legally and acceptably help taxpayers to reduce their tax liabilities.