Man arrested on suspicion of £1million tax fraud in dawn raid on Ilford home

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- Credit: PA Wire/Press Association Images

An Ilford man has been arrested on suspicion of being involved in a £1 million capital gains tax and income tax fraud during a dawn raid today (Thursday).

Officers from HM Revenue and Customs (HMRC) arrested a 54-year-old man at a house in Ilford.

They also searched a home in Manor Park, seizing business records and cash, arresting a 51-year-old man.

Alan Tully, assistant director of HMRC criminal investigation, said: “We are investigating what we suspect is a large-scale, organised tax fraud to steal £1 million of taxpayers’ money.

“Today’s operation is part of a HMRC property taskforce campaign to clamp down on those believed to be dodging capital gains tax.

“It sends out a clear message – we will relentlessly pursue those believed to be involved in fraud.”

Both men are currently being questioned under caution by officers.

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Anyone with information about tax fraud should contact the Tax Evasion Hotline number on 0800 788 887.