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News - 22 February 2013

HMRC names and shames

HMRC has published the names of nine individuals and businesses which it says each owe more than £25,000 in tax.

Those on the list had already received penalties for either errors in their tax returns or for failing to comply with their tax obligations, and are referred to as “deliberate defaulters” who had repeatedly failed to co-operate with the taxman.

The details published included names, addresses, occupations and the total amount of tax owed.

The Exchequer Secretary to the Treasury, David Gauke, said:
"The publication of these names sends a clear signal that cheating on tax is wrong and reassures people who pay their taxes - the vast majority - that there are consequences for those who refuse to tell HMRC about their full liability.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
"This disclosure is aimed at encouraging defaulters to make a full and prompt disclosure and cooperate with HMRC to avoid being named. It is part of HMRC’s approach to combating tax evasion and non-compliance by ensuring everyone pays their fair share, creating a level playing field for honest people and businesses, and cracking down on the minority who seek to evade tax."

The Government has invested over £917 million in HMRC to better tackle evasion, criminal attacks, unpaid tax debt and avoidance. The department will also receive a further £77 million by the end of 2014-15 to expand its anti-avoidance and evasion activity, bringing in £2 billion a year in additional revenue by the end of 2014-15. HMRC will therefore now aim to raise total additional revenues of £22 billion a year by the end of 2014-15. This is £9 billion more than it would have been without this Government‘s near £1 billion investment, a 70 per cent increase since 2010-11.

Legislation to allow HMRC to publish the details of deliberate tax defaulters was introduced in Finance Act 2009.

Details are published only once all appeal routes against the related tax and penalties are exhausted. Details must be published within 12 months of the penalty becoming final.

HMRC will update the list of those published on its website each quarter.

If you are unsure and need any help and advice on Self Assessment, Corporation tax, VAT, PAYE, or you need to keep abreast of changes in legislation and how it could impinge upon your business, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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