HMRC voluntary sector grants cause £30m tax liability
Grants made to help public with taxes see £30.6m liability
Grants made to help public with taxes see £30.6m liability
HMRC GRANTS led to an additional £30.6m in net tax liability in 2012/13, the department has claimed.
The grants were available to voluntary and community sector (VCS) organisations that help the public with taxes, benefits and tax credits.
HMRC made £2m available to nine VCS bodies. The funds were used to train over 3,500 volunteers, to advise customers on how to meet their obligations and claim entitlements.
Approximately 97,000 people were provided with support. However HMRC claim the VCS bodies have the capacity to support 175,000.
As a result of this HMRC also took up an additional £29.9m worth of claims, in respect of tax credits, benefits and tax repayments.
Exchequer secretary David Gauke said the grants “continue to provide a cost-effective way of ensuring that vulnerable people on low incomes get the help they need with their tax affairs from an independent, trusted source”.
HMRC plan to continue these projects to through to March 2014, and hope to build on the successes of the current scheme.
More about:
The numbers you crunch tell a story. Your expertis...
10yEmbracing 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 articleAs the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...
View articleStricter controls on VAT compliance is set to shut down the “colossal” VAT tax gap. Read More...
View articleThere has been a percentage increase in the number of claims made by companies, but more needs to be done Read More...
View articleThe Targeted Anti-Avoidance Rule was introduced to prevent individuals lowering their tax liability by converting what would otherwise be a dividend i...
View articleIn 2016-17, the average length of time to settle a tax investigation rose to 34 months, up from 31 months in 2015-16. The tax authority has also incre...
View articleDiverted profits tax revenue collected by HMRC in 2016-17 totalled £281m, leaping from £31m collected in the previous year, according to data released...
View articleThe report suggests a wide range of reforms focussed on bringing together corporation tax and accounts, including creating five year roadmap for CT re...
View articleIn 2012, HMRC made 591 requests to foreign governments. In 2016, this number stood at 1096, a 7% increase on 1025 requests made in 2015 Read More...
View article