Accountants and the Lords have put pressure on HM
Revenue & Customs to explain why its battle against tax fraudsters is
affecting thousands of legitimate businesses that are trying to pay their tax.
The Lords European Union Committee is set to publish its report on
carousel fraud on Friday, which newspapers such as the
Daily Telegraph say is costing the country as much as £3bn per year.
The Institute of Chartered Accountants of
England & Wales has criticised the government for its part in the
crackdown, which has caused ‘massive delays’ in VAT registrations. This has
meant millions of VAT repayments are withheld because of fraud checks by some
700 HMRC officers.
The ICAEW said the registration delay is preventing businesses from
collecting VAT from customers, which cannot be claimed back later.
An HMRC spokesman said, however, that 95% of registrations were taking ‘under
30 days’ to process.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay