Tax Update (April 2010)
HMRC to name and shame tax evaders
An initiative that came into effect on the
1st April 2010 means that individuals and businesses who
deliberately attempt to evade taxes now face having their name,
address and details of their evasion made public.
HM Revenue & Customs (HMRC) are now able to publish names
and details of individuals and companies who are caught dodging
their taxes on the HMRC website. Those who have deliberately evaded
tax of more than £25,000 in total could find themselves named and
shamed.
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.
"We are only targeting deliberate tax evaders. So if you know
that you have not paid the right tax, and you want to avoid being
named, contact HMRC right away to set things straight."