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Dedicated to the taxpayers of Britain, and the employees of Her Majesty's Revenue and Customs (HMRC), who have to endure the monumental shambles that is HMRC.
Thursday, 27 March 2008
Above The Law
HMRC are becoming a little too full of themselves these days.
John Cassidy, PKF Accountants tax investigations partner, has stated on Director of Finance Online that HMRC has little regard for the central tenets of the English legal system, by presuming taxpayers are guilty.
He cites the recent spewing forth from the HMRC bunker of 5000 letters to offshore account holders, demanding an explanation on funds "about which it knows little".
"In many cases, HMRC only knows that someone has an offshore bank account and the funds it contains at a few specific dates.
It has little idea how much interest was earned on the deposits, where the money came from or the key question of whether there is an undeclared UK tax liability at all.
Legally, to issue an assessment for unpaid tax, HMRC must have made a discovery or, in other words, have actual knowledge that further tax is due, not just that it might be due. Yet the threat is that such assessments will definitely be issued unless informal, voluntary answers are given to the questions raised."
HMRC should remember that no one, and no organisation, is above the law.
Tax does have to be taxing.
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