Northampton Accountants Harris & Co report that HMRC have launched a taskforce to target hidden wealth in South Buckinghamshire, Berkshire, Dorset, Hampshire, Isle of Wight, Kent, Surrey, Sussex and Wiltshire.
The taskforce will focus its attention on individuals and businesses with offshore accounts and those living lifestyles beyond their obvious means through assets from undeclared income. This exercise is expected to fetch £2.8 million.
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.’
Other taskforces also launched on 19 November will target:
•road transport industry in the South East and South; and
•VAT repayments in South Wales, North East and South West England