New tax fraud initiative announced

Tougher procedures to tackle serious tax fraud will be introduced this month, meaning those who refuse to sign a civil contract detailing their wrongdoing could end up facing a criminal prosecution, HM Revenue and Customs (HMRC) has warned.

Under the new clampdown, HMRC will contact taxpayers in writing to tell them they are suspected of a fraud, giving them the chance to enter into a contract to disclose what they have done wrong within 60 days.