UK to name, shame tax evaders

The UK’s Revenue and Customs announced
it will name individuals and companies that evade taxes on its website.

The measure will be applied from 1
April. It is not therefore expected that any names will be published before the
first half of 2011, Revenue and Customs said in a press statement.

The measure is part of a finance
bill that was passed last year. It will apply to tax payers that have evaded
more that £25,000 in taxes.

Financial Secretary to the Treasury
Stephen Timms said: “We know that law-abiding taxpayers will want to see the
results of HMRC’s investigations into tax cheats. This new approach should make
people think again about trying to get away with tax fraud.”

In addition to having to pay the
tax, interest on the tax and penalties of up to 100 per cent of the tax lost,
tax evaders now also face the risk of being identified publicly, he said.

 “We are only targeting deliberate tax evaders.
So if you know that you have not paid the right tax and you want to avoid being
named, contact HMRC right away to set things straight,” Mr. Timms added.