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HMRC effiectivness Post COVID


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Do people think HMRC will really go after the people who abused the bounce back loan / furlough / eat out schemes?

It would be great way to reduce the UK tax bill, but sadly I think it is just another pie in the sky dream, and once again show that HMRC are vastly understaffed, and only go after the low hanging fruit as they also have targets to meet and will never get the big fish like the proposed online sales tax going after amazon / ebay etc

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You could say that about not abiding by other rules such as not Quarantining correctly, wearing face coverings when should, keeping distances, track and trace.etc

Some will do as directed, others will not if think can get away with it....same as its ever been.;)

 

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5 hours ago, Voltron said:

Do people think HMRC will really go after the people who abused the bounce back loan / furlough / eat out schemes?

It would be great way to reduce the UK tax bill, but sadly I think it is just another pie in the sky dream, and once again show that HMRC are vastly understaffed, and only go after the low hanging fruit as they also have targets to meet and will never get the big fish like the proposed online sales tax going after amazon / ebay etc

They know where the money went, the easiest way to handle it would be to allow employees who were subsequently made redundant to report on former employers. They could then recover all the furlough payments plus penalties. 

 

 

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HMRC are caught both ways.  They will be encouraged to collect more to fill Rishi Rich's massive spending hole.

However if they chase too many Tory donating companies, a quick phone call and the Daily Fail will do a headline on 'Tax Red Tape stifles growth'.

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7 hours ago, Voltron said:

Do people think HMRC will really go after the people who abused the bounce back loan / furlough / eat out schemes?

It would be great way to reduce the UK tax bill, but sadly I think it is just another pie in the sky dream, and once again show that HMRC are vastly understaffed, and only go after the low hanging fruit as they also have targets to meet and will never get the big fish like the proposed online sales tax going after amazon / ebay etc

Id love them to. 

However look at BTL. 

HMRC have the land registry, HMRC obviously have peoples tax returns. So they know who owns multiple houses and they know who declares rental income. Its not hard. 

And yet when they do licensing HMRC is shocked to discover no less than half of all landlords are not declaring rental income. 

These are the landlords who are signing upto Council licences as well not the beds in shed illegal brigade, who would be hard to trace. 

Some here suggest HMRC will be like a dog with a bone going after everyone for me thats just ludicrous wishful thinking 

https://www.google.com/amp/s/amp.theguardian.com/business/2017/aug/13/half-of-landlords-in-one-london-borough-fail-to-declare-rental-income

 

 

Edited by captainb
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  • 416 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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