HMRC announced the creation of their most recent taskforce last week: aimed at catching people in the South West of England and South Wales who have sold or rented out properties without declaring the Capital Gains or the rental income.
The taxman claims to have recovered over £12 million as a result of similar property tax taskforces in London, south east England and Yorkshire: “using intelligence from the Valuation Office Agency”; and to currently have over 80 cases under criminal investigation. This latest taskforce is expected to recover £5 million.
HM Revenue & Customs has instigated 70 taskforces since 2011 and is planning 30 more for the current tax year.
How can Lynam Tax experts help me?
If you are in a sector targeted by an HMRC campaign you may need assistance with your disclosure. In any event, if you have any irregularities in your tax affairs you could benefit from our expert help. Lynam Tax Enquiry Experts have enormous experience of tax investigations and tax disclosures.
For a confidential and free initial discussion phone the experts now:
Paul Lynam: 0845 643 9997
Andrew Nutbrown: 0771 877 8710