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HMRC calls Public Accounts Committee report ‘misleading’

The claws certainly came out recently when Her Majesty’s Revenue & Customs positively blasted a report from the Public Accounts Committee.

Of course to be fair the committee had some rather harsh words for the taxman in its report, claiming that large firms conducting business in the UK were essentially given a free pass by HMRC when it came to paying their fair share of tax. HM Revenues and Customs has claimed that the Public Accounts Committee used selective and misleading figures in its recent report.

The tax authority did little to actually refute the points the committee made in its report. Instead it simply said that the PAC was being misleading by using selective data. HMRC insists that it’s not it’s fault – the taxman is simply following orders, and to be honest their hands are tied by parliamentary tax laws as they’re drawn up. For what it’s worth, there’s no number of accountants in the world can get around the fact that there are shedloads of loopholes literally baked into the legislation by policymakers, especially those in the pockets of large corporate interests.

If anything, the Public Accounts Committee needs to turn its gaze inward at Parliament and seek to change the tax laws in this country. It’s only then that we’ll be able to collect more than a pittance from all these large-scale companies. The sooner the better, too – we’re bleeding the nation’s contractors and small businesses dry in an effort to make up a shortfall that we’ll never be able to meet. Of course people will argue against tax law reform because it could possibly drive large-scale employers right off of British shores if the business conditions suddenly change for the worse. I suppose that is a valid fear, but the problem is either way we’re still in a terrible position – either we have smaller-sized businesses getting the life blood squeezed out of them – to the point where they may not be able to turn much of a profit – or we risk large companies like Amazon or Google pulling up tent stakes and going somewhere with more permissive tax laws, leaving countless Brits unemployed.

So what’s the verdict? Do we go with the devil we know or do we try to change our fate just to have us all fall on our faces? If you ask me no matter how you look at it, we lose.

 

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