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HMRC ramps up investigations

printer Mail

HMRC launched 137,000 tax investigations in the six months to December 2021 (1,062 investigations per day), up from 126,000 during the same period the previous year, according to the fee protection insurance specialist, PfP.

As HMRC increases its compliance activity, PfP suggests that it will focus on making up for recent losses associated with fraud and error during the pandemic which, as PfP notes, the Public Accounts Committee estimated could amount to some £15bn.

HMRC is also likely to push for harsher penalties, says PfP, as excuses for late payment will be treated with less sympathy than during the past two years.

Kevin Igoe, Managing Director at PfP said: ‘The Revenue clearly sees increased compliance activity as one way to balance the books. We advise anyone with undeclared tax to approach HMRC without delay to avoid a costly and time-consuming investigation. The Revenue will always look more favourably on taxpayers who come forward with unpaid tax.’

Issue: 1569
Categories: News