HMRC to receive more powers and company property tax increased

by Aaron Strutt

Mar 21 2014

Chancellor George Osborne has announced plans to increase HM Revenue & Customs powers to tackle non-compliance.

Mr Osborne announced during the Budget that he will be giving HMRC “modern powers to collect debts from bank accounts of people who can afford to pay but have repeatedly refused to, like most other Western countries.”

The government has also introduced a higher tax to stop people avoiding stamp duty. As a result, anyone purchasing residential property worth over half a million pounds through a company will be required to pay 15% stamp duty.

March 21, 2014