U.K. crackdown on millionaires who dodge taxex

[ejbr]

Source: Sky News

4:05am UK, Sunday 23 September 2012

Anyone worth more than £1m faces coming under scrutiny from inspectors in a fresh crackdown on tax avoidance announced by Liberal Democrat Treasury Chief Secretary Danny Alexander.

The move will mean 200,000 more people will be targeted by HM Revenue and Customs' affluence unit, set up originally to study the affairs of the 300,000 with assets and property of more than £2.5m.

Mr Alexander said officials would "sniff out" anybody who was not paying their fair share of tax.

"The measure will apply to people with homes and assets of more than £1m," he told the Mail on Sunday at the start of the Lib Dems' annual conference in Brighton.

"The wealthiest did best in the boom years and it is right they should pay more now."

Read more: http://news.sky.com/story/988441/crackdown-on-millionaires-who-dodge-taxes

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Novel concept, no? I guess they have been following the exploits of Mitt and are disgusted.

[dipsydoodle]

1. I think that is slightly misstated by Sky News.

The actual issue is those with HOMES worth more than a million . That could in many instances be as a result of house price inflation. Their will other instance where the home may be worth a million but if its got a high mortgage too that would reduce the owner's net worth - HMRC would determine in the course of an investigation.

Mail article referred to is here : Taxman to target all £1m home owners in new anti-affluence crackdown as government widens net on tax dodgers

Read more: http://www.dailymail.co.uk/news/article-2207197/Taxman-target-1m-home-owners-new-anti-affluence-crackdown-government-widens-net-tax-dodgers.html#ixzz27HnVVYna
Follow us: @MailOnline on Twitter | DailyMail on Facebook

[MIDNITERIDER1438]

2. both not only property.

"to study the affairs of the 300,000 with assets and property of more than £2.5m" and your source:
"Half a million people with property and assets worth over £1?million will come under extra scrutiny to make sure they are not cheating the taxman."

[dipsydoodle]

3. Yes but over here its the property values which are easiest to define.

That's generally by geographic location right down to street level. That is not necessarily so with general assets.

[pkdu]

4. We don't need no stinking taxex. ;0) nt

[ejbr]

5. Okay, so there's a typo!!