Link: Budget special
The move comes amid growing speculation that the Treasury is deeply concerned by the volume of tax avoidance.
The Revenue will employ additional outside expertise to back up legal and IT staff to protect the Exchequer from non-payment of tax and NI contributions.
The new team will also tackle fraud from undeclared income and offshore profits and act to counter avoidance of corporation tax and tax on earnings.
Alastair Kendrick, director at Ernst & Young commented: ‘This is another spend to save initiative, which will produce in these hard times, work for tax advisors as their clients need support from the Inland Revenue’s aggressive approach.
‘The Revenue is clearly going to be charged with a significant additional resource and taxpayers need to be prepared for the knock on the door.
‘It will be interesting to see what approaches the Revenue intends to adopt to meet what are very significant targets.’
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