Market leading insight for tax experts
View online issue

New HMRC taskforce targets wealthy in Northern Ireland

printer Mail

A new HMRC taskforce aims to recover £18m by targeting wealthy individuals in Northern Ireland who appear to be living beyond their means. HMRC is using Land Registry and Merchant Acquirer data to identify those with ‘badges of wealth’, such as large houses, aeroplanes, boats and undeclared offshore bank accounts which are not in keeping with the information they report to HMRC. HMRC’s Ian McCafferty, leader of the taskforce, said: ‘Our intelligence shows that people being targeted by this taskforce have no intention of playing by the rules and could end up facing a heavy fine or even a criminal conviction. Those who pay the tax they are supposed to have nothing to worry about.’