The tax team dedicated to ensuring the better off play by the rules is set to expand, HM Revenue and Customs (HMRC) said today.
The Affluent Compliance Team is to begin recruitment of 100 additional inspectors as the work of the unit expands.
In addition to taxpayers with an annual income of more than £150,000 and wealth of between £2.5 million and £20 million, the unit will also cover those with wealth in the range £1 million to £2.5 million.
By the end of December the unit had brought in an extra £75 million in tax – well ahead of expectations – with a target of £586 million by the end of 2015.
Exchequer Secretary David Gauke said:
“HMRC set up the new Affluent Teams from some of the £917 million we made available in 2010. The team has made a great start by bringing in £75 million in additional tax that would otherwise have been lost to the country.
“The vast majority of people pay their way. Dodging tax is immoral, illegal and unaffordable and the minority who cheat are increasingly finding that, thanks to the work of the Affluent Team, they have made a big mistake.”
Roger Atkinson, Director of the Affluent Teams, said:
“In September 2012 the Government announced an additional investment of £5 million, enabling us to recruit an extra 100 inspectors. We will recruit from within HMRC and externally and the new team will be fully operational by April and focused on delivering an additional £75 million a year.
“We want to recruit people with external experience and appropriate qualifications for inspector and lead case director roles. We want people with recent commercial and corporate experience in personal tax to help us understand our customer base. This is an exciting opportunity to work at the forefront, tackling those who do not pay the right tax.
“Good quality intelligence is central to catching the cheats and so we are expanding our Affluent Intelligence Unit fourfold.
“This is very good news for all honest taxpayers.”
Common characteristics of the Affluent Compliance Team’s targets:
Wealthy people who
- habitually use avoidance schemes
- 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
- have UK and offshore property portfolios
If you feel you may fall into the scope of HMRC for this, why not contact us today to see if we can assist you. For further information please contact us on 0845 351 0381 or visit our website www.davenportsaccountancy.co.uk