In the past information reached only as far as the Revenue’s Special Compliance Office but new proposals allow the information to be handed as far as ‘local offices’ where it could be put to further use.
‘It’s a new development to make NCIS information more available across the department,’ said Clive Stephens of the SCO. As part of its enlarged focus, the Revenue has also increased the number of permanent staff at NCIS from one to seven.
The changes to Revenue policy are further signs of its ongoing determination to clamp down on tax avoidance and evasion. ‘The net is closing,’ said Stephens.
As part of the anti-money laundering recommendations accountants will have to submit suspicious activity reports to NCIS or risk a jail sentence for failing to do so.
Committee expresses concern about costs to businesses and April 2018 implementation date
Drastically fewer offices for HMRC in the hope to reduce their running costs
An 80% increase in additional revenue for HMRC coincides with a crackdown on income tax avoidance
Laurence Field, the head of tax at national audit, tax and advisory firm Crowe Clark Whitehill outlines the 6 'unexpected items' regarding HMRC's Making Tax Digital plans