Speed Read: The Government needs to close the tax gap if it is to tackle the country's growing debt problem. It will therefore be disappointed by the low response to the New Disclosure Opportunity. If tax amnesties are to be effective they must be backed up by credible sanctions. It is not a coincidence therefore that Dave Hartnett the Permanent Secretary for Tax has revealed that a number of prosecutions are in the pipeline. This suggests a change of approach from HMRC's highly selective prosecution policy and the result is likely to be an increase in criminal investigations targeting both corporates and individuals.
We now know that the New Disclosure Opportunity (NDO) has yielded a mere 10 000 registrations. In light of the Government's need to recover as much tax as possible in order...
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Speed Read: The Government needs to close the tax gap if it is to tackle the country's growing debt problem. It will therefore be disappointed by the low response to the New Disclosure Opportunity. If tax amnesties are to be effective they must be backed up by credible sanctions. It is not a coincidence therefore that Dave Hartnett the Permanent Secretary for Tax has revealed that a number of prosecutions are in the pipeline. This suggests a change of approach from HMRC's highly selective prosecution policy and the result is likely to be an increase in criminal investigations targeting both corporates and individuals.
We now know that the New Disclosure Opportunity (NDO) has yielded a mere 10 000 registrations. In light of the Government's need to recover as much tax as possible in order...
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:
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