News In Focus
9 March 2010
Tax evaders to be named and shamed
Taxpayers and companies who deliberately evade taxes face having their name, address and details of their evasion made public when new legislation comes into force next month.
From 1 April, section 94 of the Finance Act 2009 will authorise HM Revenue & Customs (HMRC) to publish on its website the details of taxpayers who have deliberately evaded tax of more than £25,000 in total.
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.
“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.”
It is expected that the first names will be published in the first half of 2011.