HMRC is targeting potential tax avoiders in the south and south east looking at individuals and businesses using offshore accounts, reports Harris & Co Accountants Northampton.
The taskforce will focus on companies and individuals with offshore accounts and those living lifestyles beyond their obvious means through assets from undeclared income. This exercise is expected to fetch £2.8m.
The campaign is focusing on hidden wealth in South Buckinghamshire, Berkshire, Dorset, Hampshire, Isle of Wight, Kent, Surrey, Sussex and Wiltshire.
HMRC’s Jennie Granger, director general of enforcement and compliance, said: ‘Deliberately not declaring your income is serious. Our message is do the right thing. If you haven"t already, come clean now. If you don"t, we will find you, investigate you and, not only could you face a heavy fine, but you may face a criminal prosecution as well.’
This is one of three taskforces launched on 19 November. Others target the road transport industry in the South East and South; and VAT repayments in South Wales, North East and South West England.