FT: HMRC to name tax evaders - Spear's Magazine

FT: HMRC to name tax evaders

A fresh assault on tax evasion has been launched by HM Revenue & Custom after new legislation allowing the publication of names and details of individuals and companies came into force on Wednesday.

A fresh assault on tax evasion has been launched by HM Revenue & Custom after new legislation allowing the publication of names and details of individuals and companies came into force on Wednesday.

The laws allow the Revenue to make public the names and details of individuals and companies who are caught dodging their taxes from 1 April 2010.

Stephen Timms, financial secretary to the Treasury, said: “It is only right that people pay their fair share of tax, which supports vital public services. We know that law-abiding taxpayers will want to see the results of HMRC’s investigations into tax cheats.

“This new approach should make people think again about trying to get away with tax fraud. As well as having to pay the tax, interest on the tax, plus penalties of up to 100 per cent of the tax lost, they also now risk being identified publicly.”

To read the full story, visit ft.com



 

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