HM Revenue spend £1 billion on enforcement

HM Revenue & Customs have announced they will spend £1 billion on enforcement and compliance this year, in the hope that they will cut tax avoidance and evasion by £2.4 billion.see Times article That is a huge quarter of its £4 billion budget to be spent on...

MP’s expenses – an accountants take

A client recently asked me why MP’s are able to claim for Widescreen TV’s, expensive rugs, leather setees etc etc and not have a tax liability. All these things wouldnt normally be allowed as expenses. The reason is a piece of law that MPs have passed...

Record keeping

Following changes to the law, H M Revenue & Customs now have much stronger powers to require that you provide evidence to back up entries on your tax returns. For business owners this means your accounting records and supporting documentation need to be of very...

Revenue Powers and Penalties

Powers From the 1 April 2009 HMRC will be aligning its powers across all taxes and duties. In a nutshell they will be able to exercise the following powers: . a power to inspect records required under the record-keeping legislation – this restricts the existing...