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Christmas saw the release of the first annual report on the progress since the merger of the old Inland Revenue and the Customs & Excise, was enshrined in law. Not a casual read at 110 pages. Here are some of the highlights. During the past year 120,000 small businesses and 50,000 construction industry workers received the notorious letters warning them of the risk of an inquiry and the need to insure they have self assessed their employment status correctly. Inquiries about 80% of full inquiries resulted in additional taxes, that means one in five businesses subjected to an in-depth investigation, were found to have no tax to pay, it does seem that there are still too many businesses being put to the expense and disruption of an investigation which have no case to answer. When linked to the fact that the Revenue admits working only 85% of their cases to a satisfactory standard. Ample scope for improvement then? Complaints to the Inland Revenue soared to 87,214 from 68,700 and the scale of these numbers must now be a serious cause of concern. The Adjudicator received 4,412 complaints up from 3,376 and upheld 48% of these compared to only 35% the year before? The Revenue paid out £2.61 million in compensation last year. The Special Commissioners decision in January 2006 to compel a high street bank to provide details of offshore bank accounts with linked credit cards is a landmark for the HMRC's fight on concealed funds. Institutions are being asked to provide customer information that will identify hidden money to HMRC. Submitting 2005/06 P14s and P35s note that HMRC's annual report admits that it had problems in processing employers' annual returns due to difficulties in transferring data between computer systems, and prompted HMRC to admit that one in eight people were paying the wrong amount of tax because of mistakes in their PAYE code. These taxpayers are missing out on rebates of about £295 million a year while £575 million a year in PAYE has not been collected by HMRC. Have you just had a letter from the taxman, is it a routine inquiry or the start of something more serious, with years of experience our uniquely qualified investigation experts will tell you what's really going on. |
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Initial consultations are free, if you prefer to speak with someone rather than e-mail. Please contact us on 0116 2244924 appleton@appletonrichardson.co.uk Branches:- Ickenham (London) Glenfield (Leicester) Spennymoor (Durham) We operate a strict, highly confidential code of practice. |
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