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

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