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Tax authorities taking a new approach to investigations

The UK tax authorities are today reaping the rewards of a more focused approach to investigations into individual taxation setups. The authorities have increased the number or "aspect inquiries" over recent months into wealthy individuals and this new targeted approach has seen more conviction rates, more funds returned to the UK tax authorities and a greater awareness of potential tax "evasion or avoidance" schemes.

There is no doubt that a number of major loopholes have now been closed although in some instances there have been a number "innocent parties" impacted by the changes. At a time when the UK government needs every penny and every pound it can lay its hands on we are now seeing a more focused and efficient approach to reclaiming unpaid and overdue tax. However, there may well be a blot on the landscape!

Ongoing public-sector budget cuts and departmental changes in the government will impact upon many different departments and HM Revenue and Customs will not escape. There are now growing concern that the good work carried out by HM Revenue and Customs over the last few years could be lost if as expected significant cost cuts are implemented in the short to medium term. Surely if the department is "paying for itself" there is an argument for ring fencing it from budget cuts?

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