Mortgage News
HMRC to review large disputes after damning report
Her Majesty’s Revenue and Customs (HMRC) will review all cases relating to tax disputes worth over £100m following a damning report from MPs.
The Revenue was heavily criticised by the Public Accounts Committee (PAC) in December.
PAC’s report on HMRC claimed the department was biased towards big businesses when settling large tax disputes such as that with Goldman Sachs.
In response, HMRC has announced it will appoint a new assurance commissioner who will be responsible for overseeing all large settlements.
The assurance commissioner will review the processes used to settle high value cases.
All cases involving tax disputes worth more than £100m will from now on be referred to a team of three tax expert commissioners. Currently only cases involving settlements of £250m are referred to a commissioner.
Giving brokers the winning edge
Sponsored by Rely
David Gauke, exchequer secretary to the Treasury, (pictured) said: “Settlements form an important part of HMRC’s large business strategy.
“This internationally recognised approach has not only led to an increase in tax collected in recent years, it is contributing to the government’s drive to make the UK more competitive in a global market.
“This will continue to be vitally important as we work to rebuild our economy.”