Tax hitmen to track your spending

Taxman to unveil best ever argument for Bitcoin

Mr Osborne is preparing to deliver the Autumn Statement on Wednesday, in which he is expected to announce another extension to the Government’s austerity programme. Spending cuts and tax rises are now expected to last until at least 2018. The Chancellor indicated yesterday that he was preparing a new round of welfare cuts – and tax rises for the wealthy – this week. The renewed crackdown on avoidance is also expected to play a key role. Treasury sources said that “hundreds of millions” are expected to be raised from the greater use of third-party data, such as that supplied by credit reference agencies. Ministers also wish to encourage more whistle-blowers to come forward with details of offshore bank accounts. Mr Osborne said: “While most taxpayers are doing their bit to help us balance the books, it is unacceptable for a minority to avoid paying their fair share.” Danny ...

Full article: http://www.telegraph.co.uk/news/9717894/Tax-hitmen-to-tra...