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Category Archive for: ‘HMRC Investigation’

Landlords Beware: five ways HMRC find out about undeclared rental income

HMRC Landlords

Renting out bricks and motor has been a very sound investment over the last 20 years, not only have house prices rocketed but rents have gone up massively too. “How do HMRC find out about rental income?” is one of the most common questions asked at this site. Here are five of the most common ways HMRC track-down landlords who …

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How many years can HMRC go back?

Looking Back1

“How many years can HMRC go back?” is the single most frequently asked question (FAQ) on this site. If HMRC can’t find anything wrong with your figures then they can’t open up past years for inspection. After that there’s a sliding scale that starts at four years and goes up to twenty years. The breakdown is covered on the FAQ …

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ESC A19 – the battle goes on

Esca19

HMRC’s dubious claims about P14s’ relevance for the purposes of extra-statutory concession A19 [Editor's note: need to know what all the fuss is about? For background information and a handy flow-chart click here.] By: Keith M Gordon 23 July 2014 Another ESCapade Source: Taxation KEY POINTS • The main benefit of ESC A19 is to PAYE taxpayers. • HMRC’s argument …

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NAO slams HMRC for IT project blunder

Wasting Money

The taxman has been censured for “unacceptably poor” management after an IT project spiralled out of control to cost the taxpayer more than £10 billion. HM Revenue & Customs showed a “lack of rigour” in handling a contract for processing millions of tax returns, the spending watchdog said yesterday. The Aspire deal was costed at £4.1 billion in 2004 but …

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HMRC’s £24bn from tax crackdown looks bogus

Private Eye Figures HMRC

Last month HMRC said they were getting some amazing results, despite staff cutbacks they were pulling in £24 billion in taxes – that is nearly £1bn higher than the target set by George Osborne in the Autumn Statement in December. The mainstream media (including the BBC) printed the press releases unquestioningly. But all is not as it seems. Since 2011/12 …

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Taxpayer wins appeal against ‘careless’ penalty

Hmrc Hm Revenue Customs 700x45 660

A taxpayer has won an appeal against a careless inaccuracy penalty for omitting information about his employment income in his online tax return. His argument was that HMRC’s online filing software was to blame. In the case of Andrew Banks v HMRC, the taxpayer was charged a penalty for “careless inaccuracy” after omitting just over £200,000 employment income from two …

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