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October 2010
£900m To Fight Tax Non-Compliance
Large businesses will be among those targeted in a £900 million government plan to tackle non-compliance in the tax system.
Chief Secretary to the Treasury Danny Alexander has announced that the government will make £900m available over the Spending Review period to raise additional revenues from taxpayers seeking to avoid paying their fair share.
The scheme is designed to bring in around £7 billion a year by 2014-15 in additional tax revenues.
The £900 million will allow HM Revenue & Customs (HMRC) to target avoidance and evasion. Funding will be available for
- the deployment of dedicated tax experts to extend HMRC’s coverage of large businesses, with a focus on tackling high-risk areas.
- a more robust criminal deterrent against tax evasion with criminal prosecutions increased fivefold
- a crackdown on offshore evasion with the creation of a new dedicated team of investigators to catch those hiding money offshore.
Other initiatives will include increased use of private debt collection agencies and greater investment to prevent smuggling of alcohol and tobacco.
LINK: Press release
