NAO to probe HMRC settlements with mulitnationals
National Audit Office to review HMRC's procedures for resolving tax disputes after claims that Vodafone was let off a £6bn bill
National Audit Office to review HMRC's procedures for resolving tax disputes after claims that Vodafone was let off a £6bn bill
TAX BOSSES are facing an inquiry into how they strike deals with multinationals following accusations that Vodafone was let off a £6bn bill.
The National Audit Office (NAO) yesterday confirmed it was in the ‘early stages’ of the probe and will look into how tax inspectors reach settlements with large firms, the Daily Mail reported.
An NAO spokesman told the newspaper: “We are reviewing HMRC’s procedures for resolving tax disputes. Given Vodafone and other similar cases, we thought it would be a good idea to look at the procedures by which the settlements are reached.”
The results of the review will be published in July, according to the Mail.
Some staff are unhappy at the approach taken by Dave Hartnett, HMRC’s permanent secretary for tax, who is accused of being too soft on companies and reaching cosy settlements with multinational companies over bills rather than launching expensive court battles, the Mail added.
Leaks from HMRC last year suggested that Vodafone had shirked its tax duties, and led to protests outside the mobile phone company’s stores.
HMRC has said the suggestion that Vodafone owed £6bn was an “urban myth”.
(Picture: © Avaragado, via Flickr)
More about:
The numbers you crunch tell a story. Your expertis...
13yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe Low Income Tax Reform Group believes the government should have included tax initiatives in its plans for disabled people and employment Read More...
View articleThe revised guidance sets out the circumstances under which trustees need to disclose the identities of beneficiaries to HMRC Read More...
View articleThe accountancy world has reacted to the news that the UK has voted to leave the EU Read More...
View articleHMRC's new leader claims that customer service levels are on the up Read More...
View articleThe government department made a very costly administration error in a letter to a tax avoidance user Read More...
View articleThe European Parliament has given the green light on an EU investigation into the Panama Papers Read More...
View articleMEPs call for more transparency for trust funds and foundations, common rules for “patent box” tax reductions on intellectual property earnings Read M...
View articleHMRC assessed the company for over £50,000 of underpaid VAT relating to the hire of the hotel’s Tamarisk Room Read More...
View article