HMRC Get Tough with Tax Evaders
In the last financial year to March 2009 the HMRC managed to grow revenue generated through tax investigations to £12.1 Billion, an increase of 7% on the previous year. Overall the HMRC has grown revenue generated through tax investigations by 64% since the creation of the organisation back in 2005.
The increase in tax revenues has been attributed to a tougher and more intrusive approach taken by the HMRC. However question marks exist over the bottom line increase in tax revenues with compliance costs reported to be very high. It is understood IR35 Investigations conducted by the HMRC cost the organisation significantly more than they generate however this obviously does not take into consideration the revenues generated by scare tactics, where an individual would rather play it safe than operate in a manner that would cause them to have sleepless nights.
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