The Inland Revenue has decided to play hard ball with Wimbledon homeowners hoping to profit from the forthcoming championships.
Accountancy Age reported last year that homeowners near the All England Lawn Tennis Club were being warned about a possible clampdown by the Inland Revenue on income from renting rooms, houses or running other sideline businesses.
And according to The Times, this year the Revenue will indeed be mingling with the crowds at Wimbledon in an attempt to grass up any locals who avoid tax on their sideline earnings.
It is estimated that the Revenue could net more than £500,000 from families who give up their houses to tennis fans or players during the championships.
Those who fail to declare earnings from Wimbledon can be served with a fine and demands for back tax.
A Revenue spokeswoman said: ‘It’s the job of our investigations team to know what is going on in the area. People are well aware when their income will be taxable – there is no excuse for that income not to be declared. Our advice is – don’t wait for us to come looking for you.’
It was not clear whether the investigators would be entitiled to watch the game while performing their duties.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year