HMRC collects extra £3.4bn from SMEs following VAT enquiries
In order to maximise its revenue from compliance investigations, HMRC is putting increasing pressure on small and medium sized businesses. As a result, many businesses could be at risk of enquiries into their tax filings.
For example, data recently disclosed by HMRC shows they collected £3.4bn in extra tax through analysis into SMEs for underpaid VAT alone.
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