Tax Cheats in UK now Twice as likely to be caught

The number of criminal prosecutions for tax evasion more than doubled in the UK during the last tax year.

HM Revenue & Customs [HMRC] successfully just over twice as many taxpayers for tax evasion during 2012/13, when compared to the 2011/12 tax year.

The HMRC has plans to increase prosecutions by 500% by the end of 2015, and has received extra funding of nearly £1bn to improve their prosecution targets.  Only 10% of prosecutions are not successful.

More Tax News:

• The total amount of tax protected by tackling corporate tax avoidance schemes has passed £1 billion in the first six months of 2013.  www.gov.uk
• The tax gap in the 2010 to 2011 financial year was estimated to be £32 billion – 6.7% of the total tax that HMRC estimates was due. www.gov.uk

That £32 billion works out at £1,230 per taxpayer.  Imagine everyone saving that amount in their annual tax bill.

How would you spend your extra £23 per WEEK, if everyone paid correctly?