To ask Her Majesty's Government what estimate they have made of the cost to HM Treasury of "cum-ex" tax fraud since 2012; and whether there have been any related prosecutions.
Answered on
21 May 2019
“Cum-ex” tax fraud exploits rules which impose withholding tax (WHT) on dividend payments. The UK does not apply WHT to dividend payments; there is no direct UK tax impact on banks, other taxpayers or HM Treasury.
Answered by
Treasury