LONDON – An increasing awareness of the importance of tax compliance in the UK is leading to an rise int he number of anonymous tip being submitted to UK tax authorities about potential tax evasion.
Over the 12 months to March 2014 the HM Revenue and Customs received 90 000 anonymous tip-offs regarding potential cases of tax evasion, according to new information released earlier this week by the UK based tax information group Bloomsbury Professional.
The HMRC’s Tax Evasion Hotline receives approximately 350 calls a day, however, according to the experts of Bloomsbury Professional, only a small number of these calls lead to the launch of an investigation due to resource constraints.
It was also noted that a significant portion of the calls revolve around minor tax offenses, such as tradesman offering to complete work for cash and without any record, and, subsequently concern only small amounts of unpaid taxes.
The number of calls received at the HMRC hotline over the 12 month to March 2014 is 24 percent higher than the number of calls received over the same period in the previous year, however, it was pointed out that the rise is not indicative of an increase in tax crime, but an indication of an increasing public awareness on the importance of tax compliance.
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