In yesterday's Budget Rishi Sunak has pledged extra funding to support HM Revenue & Custom's crackdown on tax avoidance, which the chancellor said would create an additional £4.4bn in revenue over the next five years.
Rishi Sunak said funds created by an upcoming "clampdown" on tax "avoidance, evasion and non-compliance" would be funnelled towards the NHS.
Mr Sunak said:
"I am announcing a package of measures today to clampdown on aggressive tax avoidance, evasion and non-compliance including extra funding for HMRC to secure £4.4bn of additional revenue."Seemingly the proposal will see 1,300 staff added to operational teams within HMRC, intended to improve its compliance work and debt collection capabilities.
Tax does have to be taxing.
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...and will these new staff be able to hit the ground running? Of course not. Even if HMRC recruit the most bright and capable people - unlikely given the pay and the appalling reputation they have for bullying etc - they will not produce much yield this side of 2023, at the earliest.
ReplyDeleteIt seems to me that every few years HMRC manages to encourage a chancellor to spout how much extra money they are going to raise by countering evasion and non-compliance They also throw in evasion when they can bamboozle said chancellor into thinking that is just another word for evasion. After all it is in their interests to muddy the waters.
ReplyDeleteI have yet to see whether any of these attempts to increase revenue have been successful.
It is the same with Government schemes to make savings. We hardly ever get told whether or not the expected savings have been made after spending all the money to make to so called improvements.
DeleteWell Philip Hammond didn't grasp the difference between avoidance and evasion, makes you wonder how these people get these jobs.
ReplyDelete