If you are worried about the ongoing HMRC crackdown on tax avoidance, our Manchester accountants can help you to be as certain as possible that all of your investments are acceptable ones, not only now, but further down the line as well.
Gone are the days when tax ‘evasion’ was illegal and tax ‘avoidance’ was legal – now HMRC are repeatedly closing legal loopholes and clawing back the unpaid tax from previously permissible tax avoidance schemes.
The latest figures published by HMRC show they have hauled in nearly £24 billion in the last 12 months alone as a result of this approach.
David Gauke, Exchequer secretary to the Treasury, called this a “clear signal” that avoidance schemes will not be allowed, and that HMRC will pursue taxpayers for the full amount they owe.
Interestingly, he also said “we set HMRC ambitious targets to increase its yield”, indicating that the tax collectors set out with a specific remit to recover additional funds, rather than simply to impartially investigate.
“The figures published today demonstrate that HMRC is successfully meeting these challenges,” he added.
But the ongoing efforts are likely to cause significant fear and doubt for some individuals with highly efficient tax affairs – and our Manchester accountants can help you to confirm the suitability of any tax-efficient structures you may have in place within your finances.
https://www.gov.uk/government/news/hmrc-secures-record-tax-revenues-by-cracking-down-on-tax-dodgers
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