Business Services • Business Tax
Basis period reform is a significant change to the way the trading profits of sole traders, partners...
By RJP LLP on 16 May, 2024
Business Tax • Enquiries • HMRC • Personal tax • Uncategorized
Tax dodgers in the South East…watch out!
By RJP LLP on 15 December 2011
It has come to Taxtalk's attention that HMRC has a new taskforce (specialist team to undertake investigations into compliance activity) briefed to address non-filing of tax returns across the South East. This is because they believe there is an increasing problem with some taxpayers not submitting statutory returns across Corporation Tax, Income Tax, Self Assessment, PAYE and VAT.
The Government is spending £900m as part of a re-investment scheme designed to tackle tax evasion, avoidance and fraud from 2011/12. In return it hopes to generate an additional £7 billion each year by 2014/15.
You can be sure that taxpayers found breaking the rules will be penalised heavily. HMRC are going to be targeting taxpayers that they believe have made a conscious decision not to submit the necessary declarations. Honest businesses have absolutely nothing to worry about.
If you are unsure about your tax or think you may have underpaid, our advice is to speak to a tax expert to find out your best course of action. RJP's Anne Eager specialises in tax enquiries to ask her a question email ae@rjp.co.uk.
