Are you a Tax Cheat? or just want to save tax?

Are you a Tax Cheat? or just want to save tax?

HMRC will use pinpoint software to more accurately target people who have failed to pay the correct tax. The software will also find people who are trading without the HMRC knowing, through the HMRC’s connect computer system. The campaign will allow the HMRC to be alerted to tax evasion, previously unseen, through matching a large amount of data from third-party’s and the HMRC themselves. Data includes previously unseen relationships, discovering anomalies in elements such as property income, bank interest, and lifestyle. This will allow the HMRC to put a focus on any inconsistent data.

Have You Registered For VAT?

In the summer the HMRC will plan to target VAT rule-breakers with a turnover of £73,000 or above, who have not registered for VAT. Be prepared and ensure your Accountant knows all your business affairs to ensure you submit your tax returns correctly.

Voluntarily Disclosing About What You Owe Will Save You Money

“By being open about our areas of interest for the coming year we hope to maximise that exchange of information and ensure we reduce the tax saving gap and help customers pay what they owe. We will use the information we gather to pursue people who choose not to use the opportunities we provide for them to put their affairs in order on the best possible terms. It will be more expensive if we come and find people, so I urge them to come forward and disclose voluntarily.” (HMRC’s director of risk and intelligence, Mike Wells)

Do You Need Help Organising Your VAT Tax Returns?

Stonehouse Accountants offer a first class Bookkeeping, VAT and Paye service. Call Stonehouse on Peterborough 01733 265888