After a week of tax evasion hitting the headlines; last night (June 21st 2012) it emerged that over one thousand healthcare professionals are under investigation by HMRC, amid accusations they are guilty of tax evasion.
In December 2010, HMRC originally launched their crackdown on the medical profession; launching civil investigations – which have so-far uncovered a series of complex schemes which are being used by the medical profession, including the use of off-shore accounts and payments made by insurance companies – similar to those which have been in the news this week.
Now it has been revealed that over one thousand medical staff are still under investigation, with the taxman considering launching separate criminal investigations against some of the doctors and dentists.
Following the announcement that HMRC were still investigating the medical profession, a tax official said: “We are using the information to ask a number of people directly whether they should make a disclosure and have been clear about potential action HMRC can take.
“Following this, many have quickly decided voluntary cooperation is preferable.”
It has been reported that so-far, one doctor has paid back over £1 million; whilst a dentist has repaid £300,000; with the Chief Secretary to the Treasury, David Gauke, criticising the profession, saying: “I think the public would be as dismayed to hear some doctors are evading tax as they were to learn they had appointments cancelled yesterday because doctors don’t think a £43,000-a-year pension is enough.”
As an accountant; David Jacobs offers a range of accounting, audit and taxation advice to the legal and medical professions.