Ten ways HMRC is catching tax cheats
7 Jul 17
Recent high-profile wins against tax evaders prove that when it comes to cracking down on tax dodgers, HMRC is serious about stepping up not only its surveillance but also about finding innovative ways of catching out tax cheats. Here are some the methods the UK tax office employs.
If a bank or professional adviser has any suspicion that a customer might be involved in money laundering or terrorist financing, they are obliged to alert law enforcement agencies.
Every year, hundreds of thousands of “suspicious activity reports” (Sars) are filed – 90% filed by banks or other financial institutions, with the remainder from tax advisers, accountants, lawyers, estate agents and others.
Since November 2013, Sars data has been transferred to HMRC’s Connect database on a monthly basis, making it easier to spot tax discrepancies.
Tags: Beneficial Ownership | CRS | HMRC | Tax Evasion
