Taxman sifts through stashes uncovered in police raid

The tax office is set to ask awkward questions about the contents of the
7,000 safe-deposit boxes that were raided by police last week.

Scotland Yard found £53m in cash as well as gold dust, jewellery, artworks
and other precious goods. It has launched an investigation into possible money
laundering and asked the owners of the deposit box items to come forward. HM
Revenue and Customs is also likely to take a keen interest.

‘The origin of anything not apparent to the Revenue will be a cause for them
to ask for an explanation for such items, as they could possibly be the proceeds
of tax evasion,’ said Stephen Besford of BDO Stoy Hayward.

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