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03/03/2010
Tax Cheat 'Naming Law' Goes Live
Taxpayers and companies who deliberately evade taxes face having their name, address and details of their evasion made public after new legislation was put into force today.
HM Revenue & Customs (HMRC) will be able to publish names and details of individuals and companies who are caught dodging their taxes from 1 April 2010.
Stephen Timms, Financial Secretary to the Treasury, said: "It is only right that people pay their fair share of tax, which supports vital public services. We know that law-abiding taxpayers will want to see the results of HMRC’s investigations into tax cheats."
He said this new approach should make people think again about trying to get away with tax fraud.
As well as having to pay the tax, interest on the tax, plus penalties of up to 100% of the tax lost, they also now risk being identified publicly.
"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," added Mr Timms.
(PR/BMcC)
HM Revenue & Customs (HMRC) will be able to publish names and details of individuals and companies who are caught dodging their taxes from 1 April 2010.
Stephen Timms, Financial Secretary to the Treasury, said: "It is only right that people pay their fair share of tax, which supports vital public services. We know that law-abiding taxpayers will want to see the results of HMRC’s investigations into tax cheats."
He said this new approach should make people think again about trying to get away with tax fraud.
As well as having to pay the tax, interest on the tax, plus penalties of up to 100% of the tax lost, they also now risk being identified publicly.
"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," added Mr Timms.
(PR/BMcC)
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