HMRC collect an extra £850 million by targeting certain professions

In 2007 HMRC launched its first campaign where it targeted businesses in a certain sector. Inspectors were briefed prior to the campaign starting so that they understood the issues in that sector and as a result knew where to look for unpaid tax.

As a result of the success of the first campaign, other industries have been targeted resulting in taxpayers voluntarily paying over £580 million. An additional £283 million has been identified and collected by HMRC. Penalties will have been imposed on these taxpayers as they did not come forward voluntarily. Continue Reading »

HMRC gain new debt collection powers

The March 2014 Budget announced new measures whereby HMRC will be able to take money directly from the taxpayers’ bank account where the overdue tax liability exceeds £1,000. We already know that the banks are required to share account information with HMRC so it would presumably be a straightforward exercise to compare bank balances with tax debts which were overdue. Continue Reading »

HMRC’s Let Property Campaign – information for Landlords

The Let Property Campaign has been launched to target those in the residential property letting markets that are not paying the correct amount of tax.

The Scheme is designed to encourage landlords to put right any errors or omissions in their tax affairs.

Continue Reading »