Payments to Tax Informants 2021/20

The amount of cash paid out for details about individuals or companies in relation to small-scale tax evasion found lb473,000 in 2021/20, and increase of from lb182,000 from the previous year.

HMRC is under pressure to investigate bigger companies for tax evasion and it is paying key informants for information to fraudulent activities. A big potential fraud opportunity right now is around the governments coronavirus job retention scheme.

HMRC is already following through on fraud relating to the furlough scheme, payments to informants have traditionally been made to unhappy employees, or ex-employees reporting the underpayment of tax.

Another useful supply of details are former spouses who are pleased to provide information associated with tax fraud committed by their ex-partner.

As HMRC is ramping up their investigations. As a company or perhaps a sole trader, you may be susceptible to a study which could take weeks or months to obtain through.

AEL provide you having a fee protection scheme to help cover the a lot of money a HMRC investigation might cost you within the time come to provide them with any requested information in-order to be able to undertake an investigation.

For more information, please get in touch – https://www.aelmarkhams.co.uk/contact/