One in ten small businesses is under investigation by the taxman - equivalent to more than half a million at any one time.
HMRC told the Treasury select committee it is going after small businesses in an attempt to get back the £34 billion tax it failed to collect in 2015- 2016. It said small businesses are responsible for 46 per cent of this tax gap.
However, MPs accused HMRC of making it harder for businesses to file correct returns by shutting down local tax offices.
Stewart Hosie said:
“Wouldn't it be so much easier if they [small businesses] could go to the local tax office with their accounts and have them check before submitting.”Yet HMRC have told us all that MTD will make things easier!!
HMRC loves low hanging fruit.
Tax does have to be taxing.
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Say what Ken? SMEs etc are responsible for getting their accounts in order. It's not up to HMRC to act as nanny to them. Besides, I thought you and others in your profession would be grateful for all the extra business coming your way as a consequence!
ReplyDeleteHow cynical. The clue is in the name ...civil Service to serve the public and assist . This seems to have been lost in the brave new world. How sad.
ReplyDeleteSo, if my maths is correct, non-SMEs account for 54% of shortfall. As there are many fewer large companies than SMEs, and they owe more, wouldn't investigating them be much more effective? Well, probably not because if a bulldog turned up on their doorstep threatening their livelihood they would get a (metaphorical) bloody nose.
ReplyDelete