Tax evasion raids on the rise
It’s no secret that HM Revenue & Customs (HMRC) has been cracking down on tax evaders – and their tactics seem to be working.
The government’s firm stance on tax evasion has resulted in the number of raids being carried out tripling over the last three years. HMRC’s goal was to make 1,165 tax evasion prosecutions this year and so far it has carried out 593 raids over the past 12 months. This has been a success for the Treasury, with an increase on the 500 carried out the previous year and a substantial rise compared to the 2010/11 tax year, during which only 196 raids took place.
The number of custodial sentences given out for tax evasion has increased.
Convictions have increased by 30% since 2011. This is largely due to the government’s allocation of £900 million to address non-compliance in the tax system over the past four years. 320 employees have been added to the investigations to ensure that the government’s crackdown has full momentum.
As always, the message is clear: evade tax and you’ll be in trouble; pay your fair share and you’ll evade trouble.
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