Accelerated Payment Notices Recover ВЈ1.3bn in 2016-17

Figures released by HMRC reveal that it had recovered £1.3bn in disputed tax last year through the use of Accelerated Payment Notices (APNs).

Accelerated Payment Notices were introduced in 2014 and gave HMRC a new power to demand the repayment of disputed unpaid tax within 90 days of an APN being received by an individual or business.

Since their introduction, HMRC estimates to have recovered £4bn of unpaid tax through the issuing of over 75,000 APNs targeted at users of tax avoidance schemes.

Average payment demands for individuals is estimated to be £74,000.

HMRC has also increased the amount of ‘follower notices’ it has sent out to users of tax avoidance schemes, with 9,000 issued last year. Follower notices are issued when HMRC has won a court ruling in a similar case, requiring an individual to settle a tax dispute or face penalties of up to half the amount of unpaid tax.

HMRC was recently successful in a case relating to offshore trusts. As a result, HMRC has issued APNs to a vast number of contractors who received payment through contractor loan schemes.

We have advised a number of contractors who has used contractor loan schemes. We have also assisted individuals who have received a letter from HMRC, a follower notice or Accelerated Payment Notice.

Our tax investigations and disclosures team assists individuals in clarifying their tax affairs and advising of the best possible options if a voluntary disclosure of unpaid tax is required to HMRC.

We also assist individuals who are facing a tax investigation by HMRC into their affairs, which can often lead to high penalties, and in extreme cases even criminal prosecution.

HMRC will continue to clampdown on tax avoidance and tax evasion and for many the net is closing by the day as HMRC has access to more and more information and resource.

To discuss your tax affairs in complete confidence, we offer a free initial phone consultation. You can call us on 0113 387 5670, email us at enquiries@forthsonline.co.uk or fill out an Enquiry Form and we will contact you directly.