CONTACT US

For any general inquiries, please fill in the following contact form:

SUBMIT

HMRC collects extra £819m from payroll investigations

HMRC collects extra £819m from payroll investigations

By Jessica Fino                                         

HMRC has raised £819m in additional tax from its payroll investigations in the last financial year, a 16% increase on 2015/16


Pinsent Masons also said the Revenue managed to generate £503m in extra tax from large businesses, up 31% from one year earlier.


According to the firm, HMRC has recently stepped up the intensity of investigations into businesses that it believes are using “hidden employees”.


It also said the government has called for HMRC to look at such businesses.


Paul Noble, head of tax investigations at Pinsent Masons, said, “HMRC has made no secret of its suspicions of how companies classify their workers. Considering the scale that the gig economy has grown to, it is no surprise that it is now under intense scrutiny by HMRC.


“As well as its broader brush investigations in which HMRC aims to collect millions at a time, it is also combing carefully through the minor details of payroll. Even the most trivial of expenses are now being investigated.”


Meanwhile, the firm found last month that the average length of time it takes the Revenue to investigate the country’s largest businesses has stretched to 34 months.

https://economia.icaew.com/en/...

MORE NEWS

The Brexit economy: things are starting to deteriorate

The Brexit economy: things are starting to deteriorate
By Richard Partington The British economy is showing signs of deteriorating just as the government attempts to reassert its vision for...

Why is no one exposing our failing firms in advance? Prem Sikka

Why is no one exposing our failing firms in advance?  Prem Sikka
As MPs hear evidence on the collapse of Carillion, it’s time for auditors to be held to account ince the collapse of the construction ...

Barclays reports £1.9bn loss amid Trump tax changes

Barclays reports £1.9bn loss amid Trump tax changes
By Julia KolleweA £900m charge for US tax changes, litigation bills, cost of exiting Africa and Carillion collapse all blamedHefty charges ...

Who's behind the blog

Who's behind the blog

SOCIAL MEDIA