TaxPersonal TaxVIPs to face HMRC’s wrath after amnesty

VIPs to face HMRC's wrath after amnesty

Personalities to be named and shamed as part of HMRC's tax crackdown

hmrc logo

The UK’s most famous and important people, including politicians,
sportspeople and entertainers, will be lined up by HM Revenue & Customs if
they fail to disclose tax liabilities during the upcoming tax amnesty, warns
PKF.

HMRC has set 22 June as the date by which any tax
evaders can make a disclosure to the taxman and benefit from a less harsh
penalty regime than would normally be expected.

Accountancy Age revealed this week that people
expected of evading tax who did not disclose would face the full wrath of the
taxman, including enquiries straight after the passing of the deadline, with
HMRC’s crack team of investigators from the special investigations unit prepared
to act.

PKF
suggests the unit will name and shame celebrities to generate maximum
publicity and discourage further tax avoidance.

PKF tax investigations partner John Cassidy said: ‘The A-list and those on
the annual ‘rich lists’ will be hoping this is one list they’ve managed to stay
off. We believe HMRC will target fewer than 100 of these top people because,
after the initial blanket disclosures that the offshore facility is hoped to
bring, their investigations teams are after quality rather than quantity as well
as wanting to send a message to the public generally.’

He expects those targeted will face show trials.

Further reading:

Amnesty will apply onshore

Press reaction to HMRC’s tax amnesty

Hit squads ‘will move in after amnesty’

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

3d Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

5m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

5m Alia Shoaib, Reporter