Brought to you by
The Guild

As a highly-respected sub-contractor and intermediary in the contractual chain, The Guild strategically places itself between its clients and sub-contractors.  

Save content
Have you found this content useful? Use the button above to save it to your profile.

HMRC pledge to increase tax personnel by 5,000: How The Guild can help ...

9th Jul 2024
Brought to you by
The Guild

As a highly-respected sub-contractor and intermediary in the contractual chain, The Guild strategically places itself between its clients and sub-contractors.  

Save content
Have you found this content useful? Use the button above to save it to your profile.

The recent change of Government is likely to result in HMRC strengthening their tax compliance efforts, with the pledge of an additional 5,000 new compliance officers.

This potential expansion would mark a substantial increase in resources dedicated to ensuring tax obligations are met.  Should the next election result in a change of guard then these officers will be charged with the task of closing what the Treasury perceives to be a £36bn tax gap.

Any increase in HMRC compliance staff must be seen as a significant commitment by the potential new government to enhancing the integrity of the tax system and enforcing greater compliance among taxpayers. 

Umbrella companies are already on HMRC’s radar so these possible changes within HMRC will undoubtedly mean that compliance activity around umbrellas, and other perceived-risk areas, will increase (with an expectation of substantial yield and future adherence to the tax rules).

Clearly, this pledge is an acknowledgement that the current yield from HMRC compliance activities is considered insufficient and that deploying new compliance officers will bring greater returns.  It therefore follows that businesses can expect increased activity from HMRC and should take steps to ensure that their processes and external providers are both compliant and sufficiently robust to withstand HMRC intervention.
 
Do you have any compliance concerns?

The Guild has 27 years’ experience in tax compliance and can offer:

  • compliant payment solutions for businesses who use freelance workers / subcontractors. 
  • a comprehensive compliance health check – advising you of any risks the business may have and how to mitigate those risks.

 Click here to take advantage of FREE compliance guidance with one of our experts