Taxman to continuously monitor evaders
The taxman will monitor people and businesses that have previously evaded tax, under a new programme
The taxman will monitor people and businesses that have previously evaded tax, under a new programme
TAX EVADERS will be continually tracked by HM Revenue & Customs, in a bid to make sure they comply with their obligations in the future.
The Managing Deliberate Defaulters programme, developed alongside the tax institutes, will see HMRC monitor individuals and businesses that have previously evaded tax.
Around 900 “tax cheats” will soon receive letters letting them know they are the subject of increased level of scrutiny. The monitoring will take place for five years.
HMRC’s Steve Hickman said: “Tax cheat check-ups will involve continued and close scrutiny – it is a real deterrent. If you are thinking about breaking the rules just remember, you could end up with HMRC on your back for five years.
“We have worked closely with the accountant community to develop this programme and their help has been invaluable in getting the detail right.”
The level of monitoring will depend on the nature of the offence, but it is not expected that monitoring will cease for anyone within two years.
The monitoring will include: unannounced inspection visits; record checks; requests for extra information; inspect the records of one or more suppliers or customers; for VAT customers, HMRC could require submission of quarterly or monthly VAT returns.
More about:
The numbers you crunch tell a story. Your expertis...
13yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe Low Income Tax Reform Group believes the government should have included tax initiatives in its plans for disabled people and employment Read More...
View articleThe revised guidance sets out the circumstances under which trustees need to disclose the identities of beneficiaries to HMRC Read More...
View articleHMRC's new leader claims that customer service levels are on the up Read More...
View articleThe government department made a very costly administration error in a letter to a tax avoidance user Read More...
View articleThe European Parliament has given the green light on an EU investigation into the Panama Papers Read More...
View articleHMRC assessed the company for over £50,000 of underpaid VAT relating to the hire of the hotel’s Tamarisk Room Read More...
View articleThe number of investigations into high-value big companies that HMRC suspect of using transfer pricing to avoid tax has fallen by 15% in a year Read M...
View articleHMRC launches a consultation document that looks to strengthen government efforts against transfer mispricing Read More...
View article