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Tax Investigation

Significant increase in HMRC house searches as taxman targets tax evaiders

HMRC has performed 192 property searches in the first quarter of 2012, which is three times higher than any quarterly record available.

In 2011/12 there were 499 searches of residential homes and business properties which was a 155 percent increase on the previous year.

HMRC have stated they have an aim of increasing criminal prosecutions fivefold by 2014/15, and with the increase in searches of residential homes and business premises this target may be reached.

HMRC has recently come under increased attention due to the generally poor economic conditions in the UK and the media attention given to high profile entertainers and sportsmen using tax schemes to avoid tax payments.

The estimated amount of money lost to tax evasion in the UK is £4billion.