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The Finance Act 2009, Section 94 (Appointed Day) Order 2010 (SI 2010/574) has been laid before parliament and appoints 1 April 2010 as the day on which Finance Act 2009, s. 94 comes into force. Section 94 introduces a power allowing the Commissioners for HM Revenue & Customs to publish the details of deliberate tax defaulters. More than 90% of British citizens pay their taxes and the small minority who deliberately don't are taking money that would be spent on vital public services. HMRC deals seriously with such cases, using civil or criminal powers to penalise or prosecute evaders. From April 2010, in addition to recovering the tax due, interest and a penalty up to 100% of the tax lost, new legislation comes into force allowing HMRC to publish the details of people or companies caught deliberately evading more than £25,000. Previously, HMRC could not publish details of the evaders in civil cases, only in criminal cases. Parliament decided to set the threshold at £25,000 to ensure that only the most serious cases of tax evasion will result in publication. That legislation is FA 2009, s. 94 and it enables HMRC to publish the names and details of individuals and companies who are penalised for deliberate tax defaults. These defaults are incorrect returns, failures to notify and certain VAT and Excise duty wrongdoings. Section 94 does not apply to late filing or late payment penalties. The legislation was brought into effect by Treasury Order on 3 March 2010. It applies to return periods starting on or after 1 April 2010 and failures or wrongdoings occurring on or after 1 April 2010. No details of deliberate defaults committed prior to the legislation becoming effective will be published. For further information, see the HMRC website at http://www.hmrc.gov.uk/about/tax-defaulters-q-a.htm.
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About The Author  Sarah Laing Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences). Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession. |
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Article Added Saturday, 12 June 2010 | 1332 Hits |
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