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HMRC Targets Scottish Tax Evaders

by Robert Lee, Tax-News.com, London

05 August 2015


HM Revenue and Customs has said that it expects to recover nearly GB4.5m (USD7m) through a new taskforce set up to target non-compliance among wealthy Scottish taxpayers.

The taskforce will identify individuals with "badges of wealth," such as large houses, investments, aeroplanes, boats, and undeclared offshore bank accounts that are not in keeping with the information they report to HMRC. Specialist officers will cross-reference information on these wealth indicators with the data HMRC already holds on their owners.

HMRC Taskforce Lead in Scotland Michael Connolly said: "HMRC's intelligence shows that people being targeted by this taskforce have no intention of playing by the rules. They are deliberately failing to declare all their income to HMRC in a crude attempt to line their own pockets, and they will be investigated. As a result of this behavior, they could end up facing a heavy fine or even a criminal conviction. Those who pay the tax they are supposed to, have nothing to worry about."

"Using information we hold, we can target people whose lifestyle does not reflect the tax they are paying. It's not fair that a small minority are living millionaire lifestyles as a result of not paying the tax they owe."

Last month, HMRC established a similar taskforce to use Land Registry and Merchant Acquirer data to identify badges of wealth among potentially non-compliant Northern Ireland taxpayers. This taskforce is expected to recover revenue worth nearly GBP18m.

TAGS: individuals | compliance | tax | investment | tax compliance | revenue guidance | United Kingdom | tax authority | offshore | HM Revenue and Customs (HMRC) | revenue statistics | HM Revenue and Customs (HMRC) | Tax | Tax Evasion | Scotland

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