TaxCorporate TaxTaxman nets 35% more cash from business says study

Taxman nets 35% more cash from business says study

Investigations in self-assessment business forms net £415.3m

Coffers at HM Revenue & Customs have been bolstered by £107m thanks to a
35% increase in takings from investigations into business self-assessment, a
study by CCH claims.

HMRC has raised £415.3m through investigations into business self-assessment
forms over the past year, a 35% increase on last year when it netted £308m.

According to CCH the overall amount of additional tax raised by HMRC in the
last year from all personal and business tax enquiries has risen dramatically by
62% from £5.6bn to £9.1bn.

‘In the past HMRC have been known to take a general broad brush approach to
investigations, but over the past 12 months improvements to their risk profiling
system has enabled them to target tax avoidance and evasion more effectively,’
said CCH senior consultant Neil Tipping.

Further reading:

Tens of thousands left waiting for self-assessment
returns

Corporate tax clearance pilots go live

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

2m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

2m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson