Latest figures show HMRC recovered an additional £494m in income tax through investigations into tax avoidance schemes in 2014/15.
Latest figures show HMRC recovered an additional £494m in income tax through investigations into tax avoidance schemes in 2014/15. A recent HMRC survey of more than 1,000 people found more than half believed that the use of tax avoidance schemes is still ‘widespread’ and that making use of such schemes was ‘never acceptable’. Paul Noble, tax director at Pinsent Masons, said the survey ‘highlights the public’s negative view of these schemes and the support for more action’.
Commenting on the new powers available to HMRC’s counter-avoidance directorate, including accelerated payment notices, Noble strikes a note of caution. He urges HMRC to make use of these ‘new and more contentious tools in a reasonable way’ and to focus on ‘activity which constitutes real abuse’. HMRC is sure to want to follow up its recent successes involving a number of high-profile individuals. Noble said: ‘HNWs and other wealthy taxpayers are likely to face further scrutiny as a result – both here and abroad.’
Latest figures show HMRC recovered an additional £494m in income tax through investigations into tax avoidance schemes in 2014/15.
Latest figures show HMRC recovered an additional £494m in income tax through investigations into tax avoidance schemes in 2014/15. A recent HMRC survey of more than 1,000 people found more than half believed that the use of tax avoidance schemes is still ‘widespread’ and that making use of such schemes was ‘never acceptable’. Paul Noble, tax director at Pinsent Masons, said the survey ‘highlights the public’s negative view of these schemes and the support for more action’.
Commenting on the new powers available to HMRC’s counter-avoidance directorate, including accelerated payment notices, Noble strikes a note of caution. He urges HMRC to make use of these ‘new and more contentious tools in a reasonable way’ and to focus on ‘activity which constitutes real abuse’. HMRC is sure to want to follow up its recent successes involving a number of high-profile individuals. Noble said: ‘HNWs and other wealthy taxpayers are likely to face further scrutiny as a result – both here and abroad.’
