#hmrc

#hmrc

Rayner said in a statement on Wednesday she had taken legal advice when she bought a 800,000 flat in Hove, which suggested she was liable to pay standard stamp duty, but had then sought further advice from a leading tax counsel after headlines about the arrangement. She learned that the initial advice had been inaccurate and she was liable to pay additional stamp duty.

A huge proportion of the tax gap is attributable to small businesses (60% or approx. £. Sole traders do not have to register with Companies House and it is likely that plenty fly under HMRC's radar. Even small businesses which are companies, although they need to be registered at Companies House, have significant exemptions in the level of detail that they are required to submit in terms of their accounts.

HMRC's Wealthy and Mid-Size Business Compliance team is targeting 'rich' UK individuals, impacting business owners making £200k or owning properties worth £2m.

"It is clear from HMRC's explanation that the crime against HMRC was only possible because of earlier data breaches and cyber attacks."

The investigations by His Majesty's Revenue and Customs (HMRC) concluded between 2015 and 2022, revealing over 7.4 million owed across the UK.

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