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Widespread abuse of the furlough scheme and increased pressure from the Treasury on HMRC to increase the tax take could be behind an increase in demands for information from the department on professional services firms according to law firm RPC.
There was a 6% increase in demands of information from HMRC on professional services firms in 2020-21 – 875 compared to 827 in 2019-20.
These demands come in the form of production orders which require professional advisers to hand over confidential and potentially incriminating information about their client and their client’s business affairs – or face criminal liability.
Adam Craggs partner and head of tax regulatory and financial crime at RPC said: ‘Widespread abuse of the furlough scheme may be a factor behind the increase in production orders issued. Several multi-million pound scams have been unearthed including a fraudster who used “sham companies” to claim £27.4m on behalf...
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