HMRC Targets the Affluent
This month HMRC announced that it is to bolster its “Affluent Compliance Team” by a further 100 staff. The team currently has 200 staff based in 17 teams in six locations across the UK and their inspectors are targeting wealthy people who:
- habitually use avoidance schemes
- have a low effective Rate of Tax across their total income
- have bank accounts in Switzerland who appear to be understating their tax liability
- fail to file their Self Assessment return on time
- avoid or evade Stamp Duty on property purchases
- have UK and offshore property portfolios
HMRC consider these characteristics to be indicative of potential areas of tax irregularities and anyone who needs advice can contact Tax Networks Ltd.
