Compliance and the cost of mistakes!

Vaneeta Khurana discusses HMRC’s compliance reviews processes and its efforts to close the tax gap 

People costs are one of the largest costs for most employers. These include salary, bonus, benefits, gifts and reimbursement of expenses, all of which have tax and national insurance contribution (NIC) consequences and/or are required to be reported to HM Revenue & Customs (HMRC). With a more active and aggressive approach by HMRC to employment tax compliance and tax avoidance, many employers find it increasingly challenging to manage their employment tax risks.

This article discusses HMRC’s focus on employment tax; areas of high risk and the impact of non-compliance.

HMRC’s focus on employment taxes