HMRC

News that UK tax authority HM Revenue & Customs (HMRC) is ramping up criminal investigations into transfer pricing disputes shows its determination to tackle corporate tax compliance, an expert has said.

HMRC made 18,464 requests to access communications data like phone records and web histories to aid its criminal investigations in 2019, according to city law firm RPC. 

Cifas, the UK’s leading fraud prevention service, is warning UK taxpayers to be vigilant of scams as the 31 January deadline for self-assessment tax returns approaches. On top of scammers taking advantage of the uncertainty caused by the pandemic throughout 2020, HMRC received more than 846,000 reports of suspicious communications impersonating them in the 12 months leading up to November 2020. This includes over 300,000 suspicious phone calls – a 47% increase from the previous 12 month period.

7 January 2021: As the 31 January deadline for self assessment tax returns approaches, accountants and their clients are being warned of a flood in scams purporting to be from HMRC – and warning that if it sounds too good to be true, it probably is.

Businesses are taking huge risks when making research and development tax credit claims, according to research released this week.

Leading business figures across the West Midlands are celebrating after being named in the 2021 Queen’s New Year Honours List… Worcestershire-based Simon York, the director of the fraud investigation service at HMRC receives an CBE for services to countering international tax fraud.

The Government is being urged by MPs to publish a list of companies that have signed up to the furlough scheme amid concerns it does not know how much is being lost through fraud and error.

The Government launched the ‘Eat Out to Help Out’ (EOTHO) scheme on the 3rd August 2020 to boost the hospitality sector which had suffered heavily from falling revenues during the first lockdown.

https://www.hja.net/covid-fraud-hmrc-and-the-eat-out-to-help-out-scheme/

Bankers told the Treasury Select Committee they have seen higher levels of fraud for the taxpayer-backed scheme.

Two Scottish men involved in creating false invoices as part of a £45,000 tax fraud have been given prison sentences.