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Thursday, 29 May 2014

HMRC claims £24.9 billion from tax avoidance

Up £3.2 billion from last year, HMRC have collected in a record amount of unpaid tax, with more than £8 billion taken in from large businesses alone.

Serious about its commitment to tax payers, HMRC have met the Treasury’s targets on tackling tax avoidance and have ensured certain loopholes involving corporation tax and stamp duty land tax have been stopped.

HMRC received criticism last year from MP’s claiming it hasn't used all of its powers to collect unpaid taxes. Since then the government department have made sure results and targets are met and properly publicised.

HMRC’s facts and findings have been released along with the report ‘HMRC fast facts: record revenues for the UK’ – this details their overall strategies and future plans for dealing with tax avoidance.

It’s no surprise HMRC are tackling large businesses that are deliberately avoiding taxes, rather than focusing on businesses that are struggling and are having problems paying.

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