Credit cards and doumentary evidence seized by HMRC
In recent news, HMRC has demonstrated its tough stance when it comes to tax fraud. A London accountant, a 21 strong criminal gang and 11 members of a Ukrainian gang have all been subject to legal action, facing jail time and repayment orders.
With the strict rules around company accounts and VAT returns and the current deficit of the economy it is not surprise that the HMRC are keen to pursue these cases to the full extent of the law.
Richard Meadows, Assistant Director of Criminal Investigation for HMRC, said:
“We are determined to bring to justice the criminals behind this type of fraud and take away the proceeds of their crime.”
It is not just those who intentionally defraud HMRC that are likely to be subject to action and fines. Those companies incorrectly submitting accounts or missing filing dates are also often subject to financial penalties. It is important to keep on top of your accounts and submit the right information at the right time. Using a good quality accountancy service ensures that the business is in line with the law. A good quality bookkeeping software will help you keep on top of your accounts.
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