that a more consistent application of the current form of ESC A19 would be a more desirable solution.
To achieve this aim HMRC has recognised that it needs to develop its guidance in applying the current text of this concession, along with improving training for HMRC staff. Both of which, if applied successfully, should bring about clarity and consistency on the application of Extra Statutory Concession A19.
The Summary of Responses can be downloaded at HMRC website.
HMRC INCREASING TAX YIELD FROM THE UK WEALTHIEST
23 April 2013
HMRC has revealed news of an increase of a 10 percent increase in yield from some of the UK’s wealthiest individuals.
HMRC’s High Net Worth Unit (HNWU) – which deals with the tax affairs of 5,800 people with assets in excess of £20 million – increased its yield from tax enquiries by 10 per cent in the 2012/13 tax year, having collected £200 million in 2011/12. The unit has increased its revenues from the UK’s richest taxpayers every year since it was established in 2009, raising a total of £665 million in additional tax over the last four years. This revenue is in addition to the taxes HMRC normally collects from this group of wealthy individuals and is the result of enquiries. “HMRC’s High Net Worth Unit provides the specialist attention they require in ensuring the wealthy pay the tax they owe. This Government has reinvested almost £1 billion in HMRC and expects them to deliver almost £22 billion in 2014-15. “Since 2010, the unit has raised £582 million, increasing its revenue year on year which, at a time when the Government is focused on reducing the deficit, is delivering real results for the country.” Exchequer Secretary to the Treasury, David Gauke, said:
HNWU Head, Martin Randall, said:
“The tax affairs of the richest people in the country can be complex as they have large tax bills, and that’s why we’ve focused resources on getting their tax right.
“The majority of the wealthiest taxpayers play by the rules, paying the right tax at the right time, but we take action against the minority who don’t.”
DEAR HMRC I AM WRITING THIS LETTER TODAY BECAUSE…
2 May 2013
If you dread the thought of writing to HMRC, due to the often lengthy delay in reply, you might be interested to hear of some work being carried out by the Working Together group.
The Working Together Post Working Group set up a pilot exercise to encourage the use of signpost headings on letters that agents send to HM Revenue & Customs (HMRC) regarding their clients' Self Assessment and PAYE affairs.
CIPP Policy News Journal
16/04/2014, Page 159 of 519
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