David Cameron to tell MPs: Companies will be criminally liable for employees who facilitate tax evasion

William Turvill
Follow William
G7 Leaders Meet For Summit At Schloss Elmau
The Prime Minister confirmed last week that he had a stake in his father's offshore trust (Source: Getty)

Companies whose employees facilitate tax evasion will be held criminally liable, David Cameron will tell MPs today.

The Prime Minister will address the Commons after a week in which his personal tax affairs came under scrutiny.

Cameron was accused of hypocrisy last week by Labour after he confirmed that he had a stake in his father's offshore trust, details of which emerged from the Mossack Fonseca leaks.

Read more: Panama Papers: City grandee jumps to defend Cameron

Over the weekend, Number 10 published data on his tax and earnings between 2009 and 2015, with a £200,000 gift from his mother attracting attention.

And today he will tell the Commons the government will bring forward plans for criminal penalties to be imposed on companies whose employees facilitate tax evasion.

Read more: David Cameron's tax return in three simple charts

The government has also announced plans to create a cross-border taskforce to investigate all evidence of illegality that has emerged from the Panama papers.

Cameron said: “This government has done more than any other to take action against corruption in all its forms, but we will go further.

“That is why we will legislate this year to hold companies who fail to stop their employees facilitating tax evasion criminally liable.”