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Cameron: Firms must ‘damn well pay’

Cameron: Firms must ‘damn well pay’

With the next General election set for 7 May 2015, David Cameron has commented that companies which exploit loopholes to avoid tax will be made to “damn well pay”.

The reality is that HMRC has increased their level of activity by sending out Accelerated Payment Notices (APN’s) to individuals and companies, with the objective to collect over £250 million of disputed tax under the Accelerated Payments regime introduced in this year’s Finance Act.   It is anticipated that things will speed up in the New Year and by January 2015, HMRC will be issuing 2,500 Accelerated Payment notices per month and it is on track to deliver notices to 43,000 tax avoidance scheme users, covering £7.1 billion of disputed tax, by the end of March 2016.

Back to the statement, which was a response to a question put to the Prime Minister from an O2 employee during a recent visit to its call centre in Cheshire, Mr Cameron said: “We've cut the rate of corporation tax down to 20%, we're the most competitive place to come and start a business, but here's the deal - if they have a low tax rate, those companies have damn well got to pay it.”

The Mail contrasts Mr Cameron’s comments with those of Sainsbury’s CEO Justin King, who told a tax conference organised by the PAC that: “They are not loopholes. They are legitimate tax systems put in place by legitimate governments legitimately elected.”

Despite the differences in opinion, individuals and business cannot take risks by not responding to these notices. Simply click on our free APN search below and input your 8 digit tax schedule number to enable you to confirm if you are on the list and are likely to receive a demand, wherein you will have 90 days to pay.

http://www.mlmsolutions.co.uk/apn-search.html

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mlm Solutions has experience of dealing with individuals affected by their membership of these and other schemes.  We offer a free options review in any one of our offices in UK to help you make informed decisions about your financial affairs. We can advise you in relation to rescheduling your debt using a Debt Arrangement Scheme (Scotland only) or making an offer to your creditors under an Individual Voluntary Arrangement (England and Wales).   Contact our team up to 11pm at weekdays or 8pm at weekends to book a confidential free review on 08450510210or complete our online enquiry form here complete our online enquiry form here

 

 

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