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    Plans for Tebay animal reserve thrown out by planners

    Plans for Tebay animal reserve thrown out by planners

    New programme for people struggling with rising cost of food

    New programme for people struggling with rising cost of food

    Buyer beware: Over £500,000-worth of fake products seized at last year’s Appleby Horse Fair

    Buyer beware: Over £500,000-worth of fake products seized at last year’s Appleby Horse Fair

    Ten fire crews battle Cumbrian wildfire for over eight hours

    Ten fire crews battle Cumbrian wildfire for over eight hours

    Turning 75: the impact on tax-free cash, pension tax relief and death benefits

    Turning 75: the impact on tax-free cash, pension tax relief and death benefits

    Appleby Horse Fair 2025: ‘Extensive’ police measures in place

    Appleby Horse Fair 2025: ‘Extensive’ police measures in place

    Man exposes himself near Penrith car park

    Man exposes himself near Penrith car park

    £7m for two major Penrith projects

    £7m for two major Penrith projects

    Appleby flood scheme work to pause for town’s horse fair

    Appleby flood scheme work to pause for town’s horse fair

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    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

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    Darren Edmondson leaves Penrith AFC

    Lucy plays key role in county T20 triumph

    Lucy plays key role in county T20 triumph

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    Gold for Keith in annual festival of orienteering

    Cumberland and Westmorland wrestlers head to European championships

    Cumberland and Westmorland wrestlers head to European championships

    Kirkby Stephen Hockey Club win league title

    Kirkby Stephen Hockey Club win league title

    Dedicated Eden football volunteer wins major award

    Dedicated Eden football volunteer wins major award

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    10-year-old footballer Casper Ostrowski snapped up by Morecambe

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Home Expert advice
This article appears as part of a paid partnership with Armstrong Watson

Further measures to close the tax compliance gap

By Graham Poles, tax partner, Armstrong Watson

by CWH
15 April 2025
in Expert advice, News, Sponsored
A A
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Graham Poles, of Armstrong Watson

The Government has made it clear that it will be looking to increase tax revenues, with a distinct focus on tax compliance, and so businesses and individuals will need to be extra vigilant in how they manage their tax affairs in anticipation of wider scrutiny by HMRC going forward.

Increased resources

In the Autumn Budget, the Chancellor announced “the most ambitious ever package to close the tax gap”.

This included a £1.4bn investment to recruit and train 5,000 compliance staff and the appointment of a Covid Corruption Commissioner to recover funds from those who wrongly claimed government support during the Covid-19 pandemic.

In the Spring Statement, Rachel Reeves announced further measures to close the £44bn tax gap, including the recruitment of 500 more compliance staff.

The Government projects its investment in tax compliance and debt collection since October will bring in more than £7.5bn additional tax revenue by 2029-2030.

With such a deficit and greater resources, it comes as no surprise that HMRC is opening more tax investigations.

What will this mean for businesses and individuals?

With greater resources, we expect HMRC activity to significantly increase in the next year in the guise of more formal enquiries or audits on businesses and individual taxpayers, and we are already starting to see a more visible HMRC on the ground both locally and nationally through targeted and geographical campaigns and more online presence and publications.

What can make you a target for an HMRC investigation?

There are several reasons why you may be more likely to trigger attention from HMRC.

  • Changes in your financial reporting
  • R&D tax relief claims
  • High-net worth
  • Capital Gains Tax enquiries
  • Sale of a business
  • Incorrect information held by HMRC
  • Malicious tip-offs

The important thing to remember is no one is immune to a tax investigation – even companies and individuals confident of their compliance – and it is a process that can be intrusive, obstructive and very costly.

Ensure you identify any compliance gaps in your business or personal tax affairs before HMRC opens an enquiry.

This includes keeping full and robust records of all your financial transactions that impact your tax position and ensuring that all taxable income has been correctly reported to HMRC where required to do so. HMRC is increasingly able to source financial information from banks and

other institutions, and so it is important that tax returns match up with information already held by HMRC to avoid additional liabilities and penalties.

If you would like tax advice and support for you and/or your business, please call 01768222030 or email help@armstrongwatson.co.uk

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