Looking for a new income stream? How about ratting out your tax evading mates?
HMRC has announced that later this year a ‘whistleblower’ scheme will be launched for informants of tax evasion*. Under the scheme, you will be compensated a portion of the additional tax HMRC receives. The exact figure hasn’t been announced, but estimates are around 10% to 25%.
It’ll be based on the successful whistleblowing schemes in Canada and the US. In the US over £7bn has been recovered since the scheme’s inception, bagging the whistleblowers a cool $1.2bn.
So next time you’re at the golf club and overhear someone bragging about putting their holidays through their company, start taking notes!
