Record take from VAT investigations

HMRC VAT investigations net a record £3.9bn from SMEs report Harris & Co accountants Northampton, the specialist small business accountants

 

HMRC brought in a record £3.9bn in extra VAT from compliance investigations into small businesses in the last year, up 10% on the previous year, according to recent analysis and many SMEs now feel they are in the firing line over tax avoidance.

The analysis calculates the amount of extra VAT taken from investigations into SMEs by HMRC’s local offices has almost doubled in three years, rising from £2.2bn in the 2010/11 tax year.#accountantsnorthampton