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Second expansion in three months
The HMRC unit that scrutinises the activity of affluent taxpayers is to recruit 100 more inspectors as it expands again.
The division first grew around three months ago, when its scope took in the affairs of individuals with wealth of at least £1m: a change that necessitated the hiring of 100 additional investigators.
The unit, which based in six locations across the UK, was launched in October 20011 to watch over taxpayers worth between £2.5m and £20m. It had brought in an extra £75m in tax by the end of last month, while its target is to collect £586m by the end of 2015.
Common characteristics of individuals who are targeted are people who:
- habitually use avoidance schemes and have a low effective rate of tax across their total income;
- have bank accounts in Switzerland who appear to be understating their tax liability;
- fail to file their self assessment return on time;
- avoid or evade stamp duty on property purchases; and
- have UK and offshore property portfolios.
