View the article online at http://citywire.co.uk/money/article/a636029
HMRC criticised over £10.2bn backlog of 41,000 avoidance cases
The National Audit Office has criticised HM Revenue & Customs over a backlog of 41,000 avoidance cases it is investigating relating to £10.2 billion of tax.
The National Audit Office (NAO) has criticised HM Revenue & Customs (HMRC) over a backlog of 41,000 avoidance cases it is investigating relating to £10.2 billion of tax.
The NAO said in a report on HMRC's efforts to tackle tax avoidance had not demonstrated how it would tackle this backlog, and that its tax avoidance disclosure regime was failing to curb the ‘persistent’ use of highly contrived schemes.
‘HMRC must push harder to find an effective way to tackle the promoters and users of the most aggressive tax avoidance schemes,’ said NAO head Amyas Morse.
‘Though its disclosure regime has helped to change the market, it has had little impact on the persistent use of highly contrived schemes which deprives the public purse of billions of pounds,’ he added.
‘It is inherently difficult to stop tax avoidance as it is not illegal. But HMRC needs to demonstrate how it is going to reduce the 41,000 avoidance cases it currently has open.’
News sponsored by:
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
Andrew Friend, acting co-manager*, and Marcus Langlands Pearse, co-manager of the Henderson UK Property Unit Trust (HUKPUT), provide an overview of the key risks and opportunities for the UK commercial property market.
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.
by Michelle McGagh on Apr 17, 2014 at 05:01