HMRC tackles property tax dodgers

TWO new taskforces have been set up by Her Majesty’s Revenue & Customs in the North West to tackle tax evasion in the property and construction sectors.

HMRC said it is targeting landlords who own and/or rent more than three properties, as well as self-employed builders whom it suspects are either suppressing sales or over-claiming expenses for tax relief purposes.

Mike Wells, HMRC’s director of risk and intelligence, said: “These taskforce will come down hard and fast on those who have chosen to break the rules and deliberately evade the taxes they should be paying. Honest businesses, however, have absolutely nothing to worry about.

“HMRC is clear – if you deliberately seek to evade tax we can and will track you down and you’ll face not only a heavy fine, but possibly a criminal prosecution as well.”

The taskforce has been set up as part of a £900m investment by the Government to raise an extra £7bn a year by 2014/15 through tackling tax evasion.