The chancellor has announced during his Autumn Statement that the taxman will use a further £77m towards fighting tax avoidance.
Further cuts to departmental budgets, also announced by George Osborne today, will not affect HM Revenue & Customs.
It is unclear whether the £77m is new funding or a reallocation of current HMRC resources.
He has also announced that "hundreds of millions of pounds" of tax avoidance loopholes will also be closed, as announced in this Statement's documentation.
You may also like
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.