This week HM Revenue and Customs (HMRC) launched a taskforce dedicated to tackling people trying to dodge property tax in the North West of England and North Wales.
The taskforce will target those who have sold one or more properties and haven't paid Capital Gains Tax or disclosed rental income.
Using intelligence from the Valuation Office Agency to track down the tax cheats, the taskforce is expected to recover in excess of £5 million.
HMRC's Jennie Granger, Director General of Enforcement and Compliance, said: “HMRC taskforces are deployed in sectors and areas where we've detected a high risk of tax evasion. For example, in a previous property taskforce in London in 2013 we uncovered a barrister who had evaded £471,512 in unreturned capital gains.”
“The people being targeted by our taskforces have no intention of playing by the rules and could end up facing a heavy fine or even a criminal conviction.”
“A Hertfordshire property consultant who failed to declare or pay Capital Gains Tax and rental income on a number of properties was uncovered by an HMRC taskforce in 2013 and, as well as paying the tax and interest due, now has a criminal record.”
Her final warning to tax dodgers: “If you haven't declared all your income, we will find you and investigate.”
People who know anyone who is evading their taxes can tell HMRC by calling the Tax Evasion Hotline on 0800 788 887.
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