The ‘one-off incentive scheme’ which ran from April to September 2003 was launched to provide businesses a chance to come forward without incurring a penalty.
The NAO also recommended that Customs should ‘disseminate the lessons learned to help other departments assess the value of similar schemes’.
The Inland Revenue has long been considering the possibilities of a temporary amnesty.
Customs reduced the amount of VAT missing trader fraud by between £110m and £120m, according to the report. Despite this, the overall VAT losses from fraud and error increased to £11.9bn in 2002/2003 from £10.6bn the previous year.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states