Tax evading freelancers to be named

This legislation covers both individuals and companies alike.

Details of offenders will be published on the HMRC website quarterly and will remain there for a period of 1 year. This will not happen, however, until the individual/company has had the opportunity to appeal the decision.

Stephen Timms, the financial secretary to the Treasury, believes that this may deter people from tax fraud. The naming and shaming legislation comes on top of existing laws that give HMRC the right to charge interest on unpaid tax and fines of up to 100% of the tax lost.

The New Disclosure Opportunity which expired on 4th January encouraged around 10,000 people to own up to unpaid taxes in return for a penalty of just 10%.

On 12th March, HMRC will begin investigating those who they believe still owe tax and who did not make a disclosure. They have been provided information from more than 300 banks to help them with their enquiries.

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Image: Shame by PinkMoose