HMRC’s Tax Evasion Hotline received 72,000 tip-offs over the last year; according to a report today by Bloomsbury Professional. The Hotline, or snitch-line as some tax inspectors call it, allows members of the public to inform the tax authority when they suspect someone of fiddling their tax.
Despite receiving about 300 calls per day the Stalinist-style Hotline produces more noise than heat. The National Audit Office described it as the least cost-effective method of detecting tax fiddles. It only just produces twice the amount of money it costs to operate. In 2006/7, the Hotline’s yield (of tax, interest and penalties) was just £2.6 million: compared to the original estimate of £32.5 million.
On the other hand, the nuisance value to businesses unjustly investigated following a rogue tip-off can be immense.
How can Lynam Tax Investigation Experts help me?
Lynam Tax partners have a vast amount of practical experience in managing tax investigations and tax enquiries. We can advise you on the best course of action and if appropriate, help you manage any necessary disclosures, in order to obtain the optimum outcome for you, your business and your family.
*For a free, private, no obligation consultation, call today:
Paul Lynam: 0845 643 9997
or Andrew Nutbrown: 07718 778710