HMRC has never been more focused or organised in its pursuit of additional income from tax investigations than at present. During 2013/14, £9.2bn was collected in extra tax from compliance work, including £8bn from big business and £268m from the UK’s wealthiest individuals.
In total, the taxman delivered £23.9bn last year from cash it collected – and loopholes it closed – to prevent tax evasion and tax avoidance. The figures highlight that individuals and businesses of all shapes, sizes and wealth are in the line of fire as HMRC looks to achieve a record £24.5bn this year. – read more here.
If you are not currently insured with us against this and now think you should be then do let us know.
PS- LIRIC’S routine renewals will be in April.