H M Revenue & Customs have recently announced the next batch of criteria which they will target
for enquiry.
In the
Midlands area they will be looking closely at
any individuals with offshore accounts, any taxpayer who upon simple viewing
appears to be living beyond their means and anyone dealing in second hand
vehicles.
We understand
that the last sector will be dealt with under the “Missing Trader” legislation
and relates principally to individuals offering vehicles for sale at the
roadside and not declaring the income as a trade.
If you are at
all concerned with this or feel that you need advice on voluntary disclosure of
income please contact us.
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