You are here: Home - News -

HMRC taskforce to tackle buy-to-let tax cheats

by:
  • 19/11/2012
  • 0
HMRC taskforce to tackle buy-to-let tax cheats
HM Revenue & Customs (HMRC) is to launch a taskforce to clamp down on tax fraud in the rental sector in the South East of England.

The scheme will see a taskforce visit businesses in the region, from sole traders to large property developers, and examine their tax affairs to find those who are cheating the system.

HMRC expects to recover nearly £4m from this scheme, it follows a similar clampdown on buy-to-let landlords in Durham, East Anglia, Leeds, Leicester, Lincoln, London, Nottingham, Sunderland and York earlier this year.

A spokesperson for HMRC told Mortgage Solutions that teams of inspectors would be targeting businesses in the South East until January 2013. The Revenue has launched 30 separate taskforces since May 2011.

David Gauke, the exchequer secretary, said: “The vast majority of people play by the rules. We will not tolerate tax evasion and will crack down on the minority who choose to break the rules.

“It cannot be fair that, while most people are paying the right tax, a tiny minority are not paying what they should.

“HMRC is on target to collect more than £50m as a result of taskforces launched in 2011-12.”

There are 0 Comment(s)

You may also be interested in

Read previous post:
1-in-3 rejected mortgage apps can be placed by brokers – Countrywide

Nearly a third of people who have had a mortgage rejected by a bank have subsequently used a mortgage broker...

Close