Richard G Clarke Senior Manager PricewaterhouseCoopers examines a new compliance and enforcement tax investigations package which was outlined in the Budget
The main non-legislative revenue raising measure in the Budget was outlined in a press notice entitled 'Fairness in Taxation — Protecting Tax Revenues'. A new compliance and enforcement package was heralded involving an extra £66 million for the Inland Revenue and intended to yield 'at least an additional revenue totalling £1.6 billion'.
The additional funding will be used in three areas:
● countering non-payment of tax and NICs and failure to file returns;
● tackling fraud involving concealment of profits and income offshore; and
● countering avoidance of CT and of NICs and tax on employment income.
...
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Richard G Clarke Senior Manager PricewaterhouseCoopers examines a new compliance and enforcement tax investigations package which was outlined in the Budget
The main non-legislative revenue raising measure in the Budget was outlined in a press notice entitled 'Fairness in Taxation — Protecting Tax Revenues'. A new compliance and enforcement package was heralded involving an extra £66 million for the Inland Revenue and intended to yield 'at least an additional revenue totalling £1.6 billion'.
The additional funding will be used in three areas:
● countering non-payment of tax and NICs and failure to file returns;
● tackling fraud involving concealment of profits and income offshore; and
● countering avoidance of CT and of NICs and tax on employment income.
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
