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Crackdown on the wealthy by tax units
People who own property overseas will find themselves being the first in line to be investigated by a two hundred strong team of investigators with the aim of finding and bringing to justice wealthy tax evaders. UK revenue and customs yesterday unveiled the new affluent unit which will have the sole purpose of investigating the tax affairs of all people who are in the bracket of earning over one hundred and fifty thousand pounds per annum. An additional target of this taskforce will be commodity traders as they have received substantial information claiming not all of these traders have been declaring all their taxable income.
The scrutiny will continue as all holders of offshore accounts will also find themselves being investigated in the early New Year. The wealthiest five thousand individuals here in the Uk with each holding over twenty million pounds in assets will find their tax affairs are to be handled by the new specialist group named the high net worth unit. The unit has had a great amount of success since its incorporation into the tax market and has generated eighty six million pounds worth of revenue in two thousand and ten and a staggering one hundred and sixty two million this year alone.
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