Lamont Pridmore warn high earners about HMRC raids
Higher rate taxpayers have been warned by leading Cumbrian accountants Lamont Pridmore to be vigilant over their tax affairs.
The warning comes after new data from HM Revenue & Customs (HMRC) shows that its Affluent Unit took an additional £438 million pounds of high earners.
Off the back of this success the Unit, which investigates the tax affairs of UK residents with an annual income of more than £150,000 or a net worth of over £1 million, is to gain an additional 20% funding boost from the Government.
Last year the Government also stepped up its pursuit of small to medium-sized business and in the year to March 2016 brought in an extra £468 million as a result.
Warning businesses and high earners, Lamont Pridmore’s Chief Executive, Graham Lamont said: “It is no secret the Government and HMRC are trying to close the UK’s expansive tax gap through targeting specific, sometimes vulnerable groups.
“It is commonly accepted that the gap for larger corporate firms has closed as far as it can without putting off inward investment to the UK, so now they have turned their sights elsewhere.”
Lamont Pridmore’s Head of Tax, Russ Cockburn, is a former HMRC Inspector of Taxes specialising in protecting high earners and SMEs from HMRC investigations, which puts the firm in a unique position to advise a wide range of businesses and individuals.
Chris Lamont, Partner at Lamont Pridmore, added: “Our Game Keeper turned Poacher Russ Cockburn is an expert in tax investigations and has a long history of helping clients.
“He can ensure that records are kept up to date and affairs are in order and not open to investigation. We also offer a specialist Tax Investigation Service Protection Plan so that all fees are paid should the ‘taxman’ come knocking.”