HMRC has now collected more than £2bn in disputed tax from tax avoiders under the accelerated payment notice rules introduced in Finance Act 2014 and National Insurance Contributions Act 2015.
Commenting on the announcement, Angela Savin, tax partner at Norton Rose Fulbright, said: ‘It is unsurprising to see this number being collected by HMRC, but it needs to be remembered that accelerated payment notices just bring forward the time at which tax is collected – this is not additional tax in the coffers. Accelerated payment notices really have changed the economics of tax avoidance cases and the decision of tax payers to litigate, and the efficiency with which HMRC collects tax.’
HMRC has now collected more than £2bn in disputed tax from tax avoiders under the accelerated payment notice rules introduced in Finance Act 2014 and National Insurance Contributions Act 2015.
Commenting on the announcement, Angela Savin, tax partner at Norton Rose Fulbright, said: ‘It is unsurprising to see this number being collected by HMRC, but it needs to be remembered that accelerated payment notices just bring forward the time at which tax is collected – this is not additional tax in the coffers. Accelerated payment notices really have changed the economics of tax avoidance cases and the decision of tax payers to litigate, and the efficiency with which HMRC collects tax.’
