HMRC cracks down on 'wealthy tax cheats'

Date: 31st October 2011

The government has announced that it is targeting "wealthy tax cheats with overseas property" as part of a new drive.

HM Revenue & Customs (HMRC) has confirmed that it has created a new 200-strong team of investigators to identify areas where wealthy individuals are neglecting their tax obligations.

The news could inspire a number of Britons to seek the assistance of a specialty tax accountancy service in order to ensure that all their affairs are in order.

Commenting on the new crackdown, exchequer secretary to the Treasury, David Gauke, said: "The government is committed to tackling tax evasion and avoidance across all areas of the economy. That is why we allocated HMRC £917 million to reduce the tax gap over the next four years in the last Spending Review.

"With HMRC's increased capability and expertise, and its increasing success in tackling evasion both at home and offshore, the message is clear: there is no hiding place for tax cheats."

The news comes shortly after an embarrassing oversight saw business secretary Vince Cable neglect to pay £15,000 in taxes.