HMRC on the lookout.............

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HMRC on the lookout.............
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Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Sun May 04, 14 8:30 am Post subject:

Treacodactyl wrote:

Nick wrote:

It's not about money. It's a philosophy of this government.

Or it's just an unsubstantiated internet rumor? There's been a few targeted crackdowns over the years by various governments. And if you were to look at the laws introduced over the last decade or two I expect the current government has introduced more to crack down on the 'rich' than the previous one.

From a tax accountant firm.

Quote:

We have seen a huge increase in enquiries in to Sole Traders and Small Businesses in particular, the enquiries tend to be to the point and relatively short, that is unless anything is uncovered which prompts further more detailed enquiries. There are no specific trends in terms of industry sector, geographical region or relationship to accountancy practice, simply a huge across the board increase in enquiry volumes.

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Sun May 04, 14 1:29 pm Post subject:
If I google that the first thing that comes up is this: https://www.accountingweb.co.uk/press/hmrc-continue-attack-uk-tax-gap

madcat

Joined: 24 May 2008
Posts: 1265
Location: worcester

Posted: Mon May 05, 14 5:34 pm Post subject:
Think they're lookin If the wrong place, but as always it's hit the soft target and pick on the little guy.

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Mon May 05, 14 5:57 pm Post subject:

Treacodactyl wrote:

If I google that the first thing that comes up is this: https://www.accountingweb.co.uk/press/hmrc-continue-attack-uk-tax-gap

Well, yes. That's because that was the source.

Treacodactyl
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Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Mon May 05, 14 7:11 pm Post subject:

Nick wrote:

Treacodactyl wrote:

If I google that the first thing that comes up is this: https://www.accountingweb.co.uk/press/hmrc-continue-attack-uk-tax-gap

Well, yes. That's because that was the source.

Just wondered why you didn't post the link, it gives a more rounded view of the story.

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Mon May 05, 14 7:13 pm Post subject:
It made the salient point that empirically, no one sector appears to be being targeted.

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Mon May 05, 14 7:14 pm Post subject:
Sorry, I thought you were making the opposite point.

Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Mon May 05, 14 11:46 pm Post subject:

madcat wrote:

Think they're lookin If the wrong place, but as always it's hit the soft target and pick on the little guy.

Little guys aren't a soft target for tax; the little guys will cost more to investigate than they yield, unless they're seriously on the fiddle, but then they're no longer little guys. These rumours are nothing to worry about, unless you have something to worry about...

madcat

Joined: 24 May 2008
Posts: 1265
Location: worcester

Posted: Tue May 06, 14 8:10 am Post subject:
Nothing to worry about but if it costs so much to collect maybe HMRC had better start looking harder at the big boys.

Mistress Rose

Joined: 21 Jul 2011
Posts: 15575

Posted: Tue May 06, 14 8:24 am Post subject:

Sometimes it isn't about the money, it is about the government being seen to be doing something. Under Maggie, there was a big purge on 'sickness benefit cheats'. Everyone had to go through a massive form and most were then called to a medical. It cost millions, and I think they saved perhaps a few tens of thousands and caught a few cheats before the whole thing was discredited to the extent it was withdrawn.

In the case of HMRC, if they can be seen to be 'catching' a few thousand 'cheats' from small companies who then go bust because of the accountants fees, making a few hundred pounds for the Treasury having spend a few million, it can be paraded as a result.

vegplot

Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd

Posted: Tue May 06, 14 8:32 am Post subject:
They're going to have their work cut out.

Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Tue May 06, 14 8:32 am Post subject:
Well if they take out a few of the rogues it can only help keep genuine craft businesses going, because supply seems to be higher than demand.

vegplot

Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd

Posted: Tue May 06, 14 8:33 am Post subject:

Rob R wrote:

Little guys aren't a soft target for tax;

They used to be (from someone who worked in HMRC once told me) as it was far easier to met annual targets by going for small traders than large corporates.

Nicky cigreen

Joined: 25 Jun 2007
Posts: 9714
Location: Devon, uk

Posted: Tue May 06, 14 8:40 am Post subject:
and little guys can't afford big solicitors

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Tue May 06, 14 8:49 am Post subject:
Would you need a big solicitor? From a practical point (sorry) is it that hard for a 'craft' person to keep track of what tax the owe, pay it and quickly answer any query? Are there any thresholds before you start paying tax? I.e. could you make up to £100 a year without having to declare anything or do you have to file a return even if you make just £1?

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