HMRC collected extra £3.3bn in unpaid VAT from SMEs
HMRC has collected an extra £3.3bn in unpaid VAT over the last year, following investigations into SMEs. Such successful returns from these enquiries means more are likely to follow, and business owners should ensure that tax affairs are in order as a result.
The extra tax was collected by two newly created specialist HMRC teams, the Individuals & Small Business Compliance unit and the Wealthy & Mid-sized Business Compliance unit.
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