Wednesday, 2 November 2011

Overseas property-owners come under taxman's scrutiny | Money | The Guardian

Overseas property-owners come under taxman's scrutiny | Money | The Guardian

Wealthy Britons who own property or land abroad are the first group of people to be targeted by a new HM Revenue & Customs "affluent unit" set up to tackle tax-dodging among the rich.

The newly-formed 200-strong team of investigators and specialists has been charged with identifying well-off individuals who are avoiding and evading taxes and duties.

Those who own property overseas, such as a holiday home, will be the first to come under scrutiny. The unit will then switch its attention to UK-based commodity traders – who have been blamed by anti-poverty campaigners for helping to drive up food prices. Next in line will be UK residents who hold offshore accounts.

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