Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will request that HM Revenue and Customs investigate the legality of the operations of those British Offshore entities registered with the Mossack Fonseca law firm in Panama whose identity was made public by the International Consortium of Investigative Journalists on 9 May 2016.

On April 10, The Prime Minister announced a new taskforce to obtain, analyse and take action on the information contained in the Panama Papers.

It is being jointly led by HM Revenue and Customs (HMRC) and the National Crime Agency (NCA) and draws on investigators, compliance specialists and analysts from HMRC, the NCA, the Serious Fraud Office and Financial Conduct Authority. The four organisations are working in close partnership to take rapid action on evidence of tax evasion and avoidance, economic crime, regulatory breaches and misconduct identified within the material.

The Prime Minister has committed to provide resources to ensure that the material is fully investigated, including initial new funding of up to £10 million to support the taskforce’s work.