In the past, people may have turned a blinder to tax evasion and thought it was their problem. People have come to realize that everyone has a responsibility to pay taxes on time and honestly over the past 15 years. People feel less guilty reporting others who do not pay taxes.
Individuals who have been implicated in tax evasion should make disclosures to HMRC as soon as possible and get specialist advice. HMRC is less likely to be sympathetic for those who deliberately hide their tax affairs or choose not to speak up.
HMRC is also achieving greater success in this field.
According to Pinsent Masons (an international professional service firm), HMRC investigations led to 165 people being charged for tax evasion within the past six months. This is a five-fifth increase in charges than the 139 who were charged during the preceding six months.
HMRC has seen a significant improvement in its track record in criminal cases, winning 100% of all cases. This is an increase from the 88 percent success rate in 2019/20 to the 96 percent success rate in 2020/21.
Publiated at Sun, 12 September 2021 23.01:00 +0000