09 Nov 2012
THE TAXMAN is right to name and shame tax evaders who have kept £25,000 or more from the public purse, according to Accountancy Age readers.
Of the 100 polled, 79 said the tactic was reasonable and would act as an effective weapon in the department's arsenal against tax dodging.
Further reading
The remaining 21 felt the measure was unfair and could cause extensive reputational damage.
Under the initiative, tax dodgers could be named and shamed in local and regional media, thanks to an initiative administered by HM Revenue & Customs.
While the scheme to publish details of deliberate defaulters has not been utilised since it was brought in on 3 March 2010, names of those not paying their share – individuals, companies, partnerships and trusts – can be expected to appear in the media next year.
In order for a tax dodger to be named and shamed, a lengthy list of criteria must be satisfied. HMRC may release names if, after undergoing a compliance check, they are penalised for deliberate inaccuracies, failures and/or wrongdoings amounting to more than £25,000 since April 2010.
Vote in Accountancy Age's latest poll:
You may also like
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.
Visitor comments Add your comment