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HMRC 'naming and shaming' powers come into force
People and businesses who are found guilty of deliberately evading taxes face being named and shamed under new legislation brought into force yesterday (March 3rd), which may affect those involved in personal tax planning.
HM Revenue & Customs (HMRC) is now able to publish names, addresses and other details of people caught dodging taxes, as well as imposing the original tax, interest and penalties of up to 100 per cent.
Stephen Timms, financial secretary to the Treasury, said that the new approach is designed to make people "think again" about trying to get away with tax fraud as they are at risk of being identified publically.
"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," he added.
HMRC recently launched its first-ever "super podcast" in order to alert companies to major changes in the way they file and pay corporation tax, VAT and PAYE.
Posted by Fiona Beck.
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