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Time to Consider, Time to Pay HMRC

When discussing tax, it’s difficult to resist making a reference to the ‘two certainties’ in life, one of which is paying tax and the other even more unfortunate! If, for now, we concern ourselves with the former – why is it that the Treasury still suffers from outstanding tax liabilities,…

DWP and HMRC told to tackle benefit fraud and error after Concentrix fiasco

The DWP and HMRC need clearer plans to reduce fraud and error in the benefits and tax credits systems in the wake of the collapsed contract with Concentrix, the Public Accounts Committee (PAC) declared today. A report published by the PAC also criticised the government’s delays in the roll-out of Universal…

Tax Funding Available

Benefits of using a Tax Funding Facility through Tax Debts: Fixed Term & Rate – For ease of budgeting and to minimise impact on cash flow Finance can be rolled over – This allows future tax liabilities to be funded too Should you be unsuccessful in gaining funding – A…

HMRC’s approach to collecting tax from high net worth individuals

HMRC estimate that its specialist unit dedicated to collecting tax from high net worth individuals raised £416m from its compliance work with this group in 2015-16 according to a report today by the National Audit Office (NAO). This is separate from tax already voluntarily declared by these individuals. As this…

HMRC investigating £1.9bn in potential tax avoidance by super-rich

The taxman is now targeting Britain’s wealthiest people and have identified potential evasion and avoidance that is estimated to be worth £2billion. However the taxman have pursued only one successful criminal prosecution, a National Audit Office report reveals. It says the tax affairs of 6,500 super-rich individuals, each worth more…

Car dealer sentenced for avoiding £113000 in tax

A CAR dealer who avoided paying £113,000 in tax has been sentenced. Rashid Moughal, aged 45, of Gigg Lane Bury, was sentenced to 22 months jail suspended for two years on Friday, after admitting evading £113,000 by under declaring his income and not paying VAT on sales of second-hand vehicles…

A crackdown on VAT fraud could turn business leaders into “pariahs”

An HM Revenue & Customs (HMRC) consultation on VAT reform closes for comments next week and experts are staggered that the plans heighten …<<read more>> 

Lichfield management consultant jailed for two years after committing £405,000 tax fraud.

Keith Riley, 65, who was providing services via a job agency to Network Rail, has been caught in a joint HM Revenue and Customs (HMRC) and British …<<read more>>  

Tax in sport – Bradford Bulls: Club to pay “tens of thousands” of pounds owed to HMRC

HMRC asked for the Championship club Bradfordbulls to be wound up on Monday. HMRC Have argued that the club owed around £350,000 in taxes, the champions have claim they…..<<read more>>

Taxman increases number of raids on premises by over a quarter.

More and more businesses could be expecting a rather abrupt visit from the taxman, as figures out today has found the number of raids carried out by HM Revenue & Customs (HMRC) has shot up over the last year. The research found that HMRC searched 761 properties as part of…