Reducing tax evasion and avoidance policy detail update

HMRC have added a new section ’HMRC Campaigns’ to their policy detail on ‘Reducing tax evasion and avoidance’, report accountancy services Harris & Co.

The new section provides information on past, present and future planned HMRC campaigns that are targeted at improving tax compliance by offering taxpayers a chance to get their tax affairs in order on the best possible terms. It also lists the revenues generated from past and present campaigns. The Offshore Disclosure Facility campaign appears to be the most effective of these campaigns, generating £508,590,000 out of the total £802,864,000 campaign revenue to-date. The Value Added Tax Outstanding Returns campaign, by comparison, fetched £70,000.