The following HMRC document describes what they intend to do about tax evasion
As an illustration they provide several case studies such as the following
Case study — surveying jail
- John William Powell, a quantity surveyor from Kenilworth, was sent to prison for two and a half years for failing to pay income tax. His fraud was uncovered when HMRC’s offshore experts identified Powell’s ownership of a holiday home in Antibes by analysing data on French properties, which showed that the house had been bought with the proceeds of the tax evasion. The case was referred for criminal investigation, Powell pleaded guilty, and was sentenced in February this year.
HMRC is getting more data on offshore assets — including holiday homes. Whether the proceeds of tax evasion are held in a bank account or used to buy property, they will not remain hidden forever. They say “When you are caught, you could face jail”.
Loading...