It has been claimed that the National Audit Office, Whitehall’s watchdog, is being pressured to launch an investigation into tax avoidance; following the high profile cases reported during June.
Despite the National Audit Office saying they have yet to decide whether to carry out an investigation into the matter, it is widely believed amongst HMRC officials that a probe will take place; as a result of the level of interest expressed by MPs.
Claims that the National Audit Office will investigate tax loopholes further, have also increased following the chair of the Public Accounts Committee, Margaret Hodge, suggesting that last week the National Audit Office had agreed to look into how HMRC deal with tax loopholes.
In a further twist into the recent tax avoidance allegations, it has also emerged that HMRC’s top lawyer could face prosecution over the evidence given on oath to MPs on HMRC’s controversial £1.25 billion tax settlement with Vodafone.
As an accountant, Simon Rowe, specialises in tax, Business Turnaround and Insolvency.