More Homeowners to Face Scrutiny from Elite Tax Unit

Date: 02/01/13

More Homeowners to Face Scrutiny from Elite Tax Unit

An elite tax unit focusing on the ‘super-wealthy’ is to lower its threshold to target homeowners with property worth more than £1 million.

HM Revenue and Customs’ (HMRC) ‘affluence unit’, consisting of 200 tax investigators and technical specialists, had previously been tasked with looking into the tax affairs of those with assets of between £2.5 million and £20 million.

However, as the Government continues to toughen up on illegal tax evasion, as well as aggressive tax avoidance schemes, HMRC has now lowered the wealth threshold, meaning that those with an estimated wealth of £1 million, including assets such as property, will now face scrutiny.

The new threshold means that HMRC will scrutinise more people’s tax affairs than before, making it all the more important to ensure that yours are seen to be in order.

Although HMRC has said it is only targeting those it believes are not playing by the rules, taking action now to ensure your own affairs are in order can help prevent any problems at a later stage, should the taxman come calling.

For further information please contact Stuart Hinnigan at our office.


Stuart Hinnigan FCA CTA

Author: Stuart Hinnigan FCA CTA

Stuart’s career in accountancy began when he joined Preston based Moore and Smalley in 1994 following his graduation from Lancaster University. He qualified as a Chartered Accountant in 1997 and then chose to specialise in...

Read More

Share this article:


0 Comment


Nobody has commented yet. Why not add one?

Add your Comment

We have the ability to edit and/or delete posts and comments. Links should be relevant to the topics. Please note all comments are subject to review before inclusion.


Register to comment


Arrange your free consultation

We offer a free, no obligation consultation with one of our experienced advisors to discuss all your business and accounting requirements. Complete the request form and one of our friendly advisors will be in touch shortly to arrange your consultation.

Arrange Now

Memberships & Accreditations

When appointing a firm of accountants it is important to check that they are appropriately registered and regulated.

Our clients can be assured that Scott & Wilkinson is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities and is an authorised training partner.