Are HMRC watching your Facebook account?

It has been suggested in recent press that HMRC (and other organisations such as mortgage and insurance companies) may be looking at your social media accounts to see if you are cheating the system.
HMRC, for instance, could be looking for evidence of lifestyle costs and could be reviewing your holiday snaps, pictures of your new car, “selfies” at exclusive restaurants and possibly even jewellery such as engagement rings, expensive necklaces and so forth. HMRC are interested in this to see if the cost of your lifestyle exceeds your earnings with a view to  try to determine whether your income may be under declared.
Given the harsh penalty regime for under declared income, that now exists, if you are worried about your income being under declared, it is best to come clean and be honest with HMRC as this will help reduce the penalties.
If you wish to speak to one of our tax team about your tax position, then for Darlington call Alan Moore or Lee Watson (01325 349700), for Durham call Nicola Bellerby or Lee Watson (0191 384 2244) and for York call Alan Moore or Graham Richardson (01904 784400).