Car dealers are likely to be facing questions and fines from HMRC if they fail to research big spending buyers.
Failure to properly investigate the purchase of luxury cars can land them in serious trouble under money laundering and profits of crime laws, says analytics specialist Fortytwo Data.
HMRC is concerned that not all dealers are carrying out necessary checks on buyers and supplying suspicious activity reports, which are running at low levels.
Failure to make the checks can result in fines for a dealership running into hundreds or thousands of pounds and they are now averaging nearly £1,300 per case.
