Extra inspectors recruited to target wealthy tax avoiders (UK)

[marmar]

from the Independent UK:




Wealthy individuals who are avoiding the 50p income tax rate are to be targeted by 2,250 extra government inspectors in a crackdown to be unveiled at the Liberal Democrat conference today.

The Chief Secretary to the Treasury, Danny Alexander, will use a speech in Birmingham to reveal the plan to "scrutinise people in the high income bracket to make sure they are paying their fair share". The hunt for wealthy tax avoiders will heighten coalition tensions over the 50p tax band, which opponents claim is making Britain less welcoming to entrepreneurs.

In an exclusive interview, Mr Alexander said that one hundred of the new investigators would form an "affluence team" to crack down on the mega-rich – the 350,000 people in the UK whose personal wealth is more than £2.5m. Mr Alexander said: "We are keeping up the pressure on tax evasion and tax avoidance, on making sure that those with the broadest shoulders bear their fair share of the burden."

He said the clampdown on tax avoidance had been "driven forward" by his party, and would target "particularly people who might be eligible to pay tax at the 50p rate". ...........(more)

The complete piece is at: http://www.independent.co.uk/news/uk/politics/extra-inspectors-recruited-to-target-wealthy-tax-avoiders-2356573.html

[MadHound]

1. Yeah, that's not happening here in the U.S. n/t

[TheWraith]

3. Actually it is.

The IRS has already collected about $500 million this year in disclosures of offshore accounts, and a lot more is expected to come in before the end of the year. They offer an amnesty period: people with offshore accounts can come clean, pay the required taxes and interest, and make out better than if they get caught later on--both in terms of the percentage of their money they keep, and avoiding criminal charges.

A similar program in 2009 ended up netting about $2.2 billion.

http://www.inquisitr.com/142661/back-taxes-2011-irs-offshore-voluntary-disclosure-program/

[aquart]

4. Course not. Hiring inspectors is government job creation.

And we must never ever do that.

[Sarah Ibarruri]

2. This is what we need here, in addition to HIGHER RATES OF TAXATION OF THE RICH nt