A little piece of research reveals that HMRC is behind a big piece of work – apparently being responsible for being responsible for half of all winding-up petitions. The taxman, in short, is the grim reaper for business (read our story here).
It’s well known that the taxman is more than happy to act as the chill hand of death for business but the scale on which it seems to be happening places it on the weapon of mass destruction scale.
Observers have already remarked that, if this is HMRC in “soft-touch” mode (because of the recession), then who knows how the department will react when the economy turns around?
The fact is though, when the economy is healthy, the taxman receives more revenues, there are fewer tax debts and fewer companies need a helping hand into the next life.
The taxman has also been surprisingly good with its Business Payment Support service in allowing companies to postpone paying their bills.
This is the duality of HMRC’s position right now. Giver and taker of business life. A clear sign of the times.
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