Tax inspectors are to continue going after individuals with money in offshore accounts, even if the money was given to them as a 'gift', it has been reported.
Just last week, the Tottenham Hotspur manager Harry Redknapp was declared not guilty by a London court after he successfully argued against charges of evading taxes, claiming that money placed into a Monaco bank account he opened had been given to him by a friend.
Despite this setback, the Financial Times has reported that HM Revenue and Customs (HMRC) is still determined to go after individuals with un-declared funds in offshore accounts, warning that the "gift" argument may not be enough to escape prosecution.
Indeed, according to the newspaper, tax inspectors are determined to flex their muscles after being given some £900 million worth of government funding to clamp down on tax evasion and funding.
As one City accountant was quoted as saying: "Despite losing the Redknapp case, it is clear that the Revenue is prepared to go to court to chase individuals it believes are evading tax."
At the same time, the Independent is similarly reporting that the taxman's "war on football" will go on, despite the outcome of the high profile case.