Rasing The Bar
HMRC have stepped up their game a little, recently they’ve not only issued warning that ‘cowboy advisers’ could face fines of one million pounds, but to keep in the western feeling of their warning they have also issued a Name and Shame list of their top 20 tax avoidance or fraud targets, their collective sums of outstanding money totalling multi-millions of pounds.
HM Revenue & Customs have been over the past year, slowly but surely increasing their pressure, not only on the ones that seek to keep their taxes out of the knowledge of the tax-man, but also with more strict measures to correctly observe those which maintain legal and adherent operations.
The chancellor, George Osborne gave a concise and verbose statement, outlining that:
“Our message is clear; tax fraud and evasion is illegal and will not be tolerated. Millions of hard-working people pay their taxes and it is they who are being defrauded.”
In line with this kind of governmental stance the schemes, which themselves costs millions of pounds to implement and run have achieved some of their intended goal, several of the targets have been apprehended, including UK persons that had seek to maintain their evasion by leaving the country, the list now contains some 30 such targets after HMRC added more names.
Too Much? Or Necessary Implementation?
The somewhat archaic manhunt-esque rogues gallery has been viewed one and a half million times since it was put up, and leads generated by information submitted to it have pointed to the whereabouts of nearly all of the original twenty.
You can see the gallery of ‘wanted’ at this link http://www.flickr.com/photos/hmrcgovuk
The message is clear, keep your taxes in order.
If you are operating a UK business and are concerned that you may not be able to properly meet your tax obligations, you may be in danger of company insolvency. If you need to know more you can talk with one of our experts to find out how to overcome any obstacles you may be facing.
Don’t let your name be the next on the HMRC hit-list, act sooner rather than later.
If you have a struggling business, get free advice call 0845 409 4471