Spring statement - PwC comments: investment in HMRC efficiency is expected to yield an additional £3bn of tax revenues
23 Mar 2022
Andy Olymbios, Head of Tax Disputes Network at PwC UK, comments
The Government announced it is investing £161m over the next five years to increase compliance and debt management capacity in HMRC which is expected to yield an additional £3bn of tax revenues. This investment is expected to support HMRC's increased compliance and risk assessment activity through processes such as the Business Risk Review and new Uncertain Tax Treatment provisions for large businesses, the latter applying for tax returns filed on or after 1 April 2022. This is a clear signal to taxpayers to more proactively manage risk through robust governance, data management and early engagement with HMRC in order to manage uncertainties.
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