Popup Banner Ee Revised

Hone your strategic leadership skills with

Strategic Leadership and Change Course

Intake: 5th August - 8th August

Duration: 4 days


HMRC to auction 150kgs of gold worth over £2.5m

HMRC to auction 150kgs of gold worth over £2.5m

The treasury does not only benefit from chasing outstanding amounts due on taxes, but it also has various other methods of topping up the coffers.

In the latest unusual move, HMRC will be auctioning almost 150 kilos of gold that was smuggled into the UK by criminals, with the results expected to be worth in excess of £2.5m.

Smuggling plot

An HMRC investigation into a £9m smuggling plot led to a gang leader being sent to jail for a nine year term, and during the proceedings, the gold was seized as evidence.

Assistant director at the fraud investigation service of HMRC, Kevin Newe, said: “Our work doesn’t stop when a criminal is sentenced; we always look to reclaim their illegal profits for the nation’s finances to fund the public services used by everyone. By auctioning the gold we seized during the investigation we are moving another step closer to bringing this long and complicated case to a conclusion and ensure justice is fully served.”


The public auction will take place at Wilsons Auctions in Belfast on 30th October, with viewings to take place on the 28th and 29th.

Entries on the catalogue include Asian gold bracelets, rings, necklaces and a statue. Gold bars also feature in the auction, and individual lot prices range from £200 to £5,000.

Almost £700,000 has already been raised via two auctions that took place online, and the gang leader is also being forced to sell land and properties worth nearly £2m.

Other News

What Role Does Motivation Play in Managing an Organisation?

What role does motivation play in managing an organisation? Motivation is one of the major factors for driving success. If…

The impact of the Brexit deal on the accountancy sector

After months of uncertainty and political wrangling, a Brexit deal was finally announced on Christmas Eve 2020. The deal includes…

5 Essential elements of a winning business development plan

The first step to building or expanding a business is creating a concrete business development plan. Entrepreneurs will find plenty…

Back to top