TaxCorporate TaxRaise HMRC budget to slash deficit: PKF

Raise HMRC budget to slash deficit: PKF

PKF says extra £20bn could be raised in three years by additional recruiting at HMRC, backed up by a national tax amnesty

Calls have been made for George Osborne to increase rather than cut HM
Revenue & Customs funding if he is serious about reducing the £167bn public
deficit.

By recruiting additional staff and introducing a national tax amnesty, the
Chancellor could rake in an extra £20bn in the next three years, PKF said.

The ‘tax gap’ between what HMRC estimates it should collect and what actually
flows into the UK’s coffers stands at a reported £40bn, the firm said.

Yesterday the government announced that up to £190m of the current cost
savings are to be achieved by a freeze on non-frontline civil service
recruitment, but PKF is urging the government to ensure these cuts do not affect
HMRC.

Philip Fisher, head of employment taxation and rewards at PKF, said further
reductions in HMRC staff numbers and capability would be a “false economy”.

“A far better solution would be to give HMRC the resources to work
effectively,” said Fisher.

Further reading:

Osborne
warned over hasty tax decisions

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