HMRC’s new powers to tackle electronic sales suppression
The HMRC has issued advice about the new powers and penalties under the Finance Act 2022 to tackle electronic sales...READ MORE
HMRC’s latest quarterly list of deliberate tax defaulters is topped by three wholesale suppliers, each of which paid over £1m in penalties for underpaid tax, while fast food outlets, hairdressers, hauliers and grocery shops also feature among the more than one hundred ‘named and shamed’ businesses found to be owing some £13m.
Glasgow-based Zamco, a wholesaler of alcoholic drinks, paid £1.7m in penalties on around £1.9m of tax owing. Hobson’s Choice Stores from Sheffield had to pay £1.4m having failed to pay over £2m of tax owing, while Birmingham-based PRB Trading, which dealt in wholesale clothing, faced £1.6m of penalties for non-payment of £1.9m in taxes.
Read more at Accountancy Daily.