Landlords in Scotand and especially those who are 'accidental landlords' (home owners who have become landlords, holding on to their asset rather than selling) need to be aware of tax obligations as a new taskforce to tackle tax evasion by landlords in Scotland has been unveiled by HM Revenue & Customs (HMRC).
This follows on from the success of similar taskforces operating in London and the north west of England.
Taskforces come as a result of the Government's £900m spending review re-investment to tackle tax evasion, avoidance and fraud from 2011/12, which aims to raise an additional £7bn each year by 2014/15.
Danny Alexander, Chief Secretary to the Treasury has said, "It is not right that some landlords in Scotland have chosen to deliberately evade the taxes they should be paying. This is not fair on honest businesses and HMRC will come down hard on those who have chosen to break the rules. If you deliberately seek to evade tax, HMRC can and will track you down and you'll face not only a heavy fine, but possibly a criminal prosecution as well".
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