| Large businesses will be
among those targeted in a £900 million
government plan to tackle non-compliance
in the tax system. Chief Secretary to
the Treasury Danny Alexander has announced
that the government will make £900m
available over the Spending Review period
to raise additional revenues from
taxpayers seeking to avoid paying their
fair share.
The scheme is designed to bring in
around £7 billion a year by 2014-15 in
additional tax revenues.
The £900 million will allow HM Revenue
& Customs (HMRC) to target avoidance and
evasion. Funding will be available for
- the deployment of dedicated tax
experts to extend HMRC’s coverage of
large businesses, with a focus on
tackling high-risk areas.
- a more robust criminal deterrent
against tax evasion with criminal
prosecutions increased fivefold
- a crackdown on offshore evasion with
the creation of a new dedicated team of
investigators to catch those hiding
money offshore.
Other initiatives will include
increased use of private debt collection
agencies and greater investment to prevent
smuggling of alcohol and tobacco.
LINK:
Press release |
