Relating to the doubtful world of offshore wealth and the respective tax losses subsequently inflicted on different international locations, not solely does the UK rank second, however an additional three British abroad territories make the highest 10.

In reality, when these tax losses to different nations by way of this offshore wealth are mixed, it sits at a staggering £64.5bn, in accordance with new analysis.

By making the most of the tax loopholes out there by means of offshore funding, rich people and organisations all over the world are capable of streamline the tax they pay.

Whereas it’s a really gray space that usually attracts some unsavoury practices and other people, it’s not, in itself, unlawful.