Publishing Details of Deliberate Tax Defaulters
Section 94 of Finance Act 2009 came into effect on 1 April 2010. Section 94 contains legislation enabling HMRC to publish the names and details of individuals and companies who are penalised for deliberate tax defaults including making incorrect returns, failing to notify and certain VAT and Excise duty wrongdoings, where the tax lost exceeds £25,000. Names will not be published of those who make a full disclosure whether unprompted or prompted. Please refer to the April issue of tax.point for detailed analysis of this legislation.