Jonathan Fisher QC examines HMRC’s use of information contained in a suspicious activity report
Tax practitioners may have missed the significance of an announcement buried deep in SOCA’s latest Suspicious Activity Reports (SARs) Annual Report published in October 2010. The announcement (on page 45) gives notice that HMRC have launched a programme of action ‘to drive up the use of SARs and to ensure that they are used to their full potential within their organisation’. The announcement adds that ‘maximising the use of SARs will enable HMRC to deliver one of its principal aims to make sure that money is available to fund the UK’s public services and its vision to close the tax gap’.
HMRC using SARS
At first blush this announcement is hardly surprising. HMRC are the largest end-user of SARs. There are no recently published figures for the numbers of SARs passed annually by SOCA...
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Jonathan Fisher QC examines HMRC’s use of information contained in a suspicious activity report
Tax practitioners may have missed the significance of an announcement buried deep in SOCA’s latest Suspicious Activity Reports (SARs) Annual Report published in October 2010. The announcement (on page 45) gives notice that HMRC have launched a programme of action ‘to drive up the use of SARs and to ensure that they are used to their full potential within their organisation’. The announcement adds that ‘maximising the use of SARs will enable HMRC to deliver one of its principal aims to make sure that money is available to fund the UK’s public services and its vision to close the tax gap’.
HMRC using SARS
At first blush this announcement is hardly surprising. HMRC are the largest end-user of SARs. There are no recently published figures for the numbers of SARs passed annually by SOCA...
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:
