Want to know the real reason for inflation? TAX

HMRC: if you’re rich, you don’t have to pay your taxes and probably won’t be investigated for it – but if you’re poor you can guarantee they’ll come after you for the tiniest amounts.

Does the UK have the worst tax collection system in the world?

It would explain our recent inflation problem – with huge amounts of public money going to the rich (for nothing), who aren’t paying tax back on it.

Taxation limits inflation by taking money out of the economy to balance the amounts being put in by government spending plans every year.

If HM Revenue and Customs doesn’t bother to tax the people who pay the largest amounts, then the economy is flooded with too much money and inflation rises. Right?

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Now we find that HM Revenue and Customs aren’t even bothing to investigate rich tax dodgers any more:

This is from the Guardian article:

The number of civil investigation cases opened by a HM Revenue and Customs (HMRC) fraud unit investigating offshore, corporate and wealthy taxpayers has fallen by more than half in five years, figures reveal.

The Observer reported last month that HMRC has not charged a single company under landmark legislation to crack down on tax evasion. Campaigners warned that HMRC was undermining its own deterrents by failing to use its criminal enforcement powers.

The new figures, obtained by the Bureau of Investigative Journalism, suggest that the tax authority’s civil enforcement in its fraud investigation service has also declined alongside its use of criminal powers.

Civil investigations opened by the offshore, corporate and wealthy unit, part of HMRC’s fraud investigation service, fell from 1,417 in 2018-19 to 627 in 2022-23.

Civil inquiries and investigations declined sharply in 2020, when the Covid-19 pandemic interrupted HMRC’s enforcement activity. But despite a significant rise last year, the number of cases remains well below pre-pandemic levels.

The number of civil cases that were formally opened by the fraud investigation service, which can examine the tax affairs of any taxpayer, fell by 28% in the same period, from 17,424 from 2018/19 to 12,585 in 2022/23.

The article also states that HMRC says its fraud investigation service is focusing on the highest-value tax fraud and the figures do not take account of overall compliance activity, with 300,000 compliance “interventions” opened in 2022-23, securing £34bn in additional tax revenue.

HMRC says that since 2018-19 it has opened more than 1.5m compliance interventions, securing £136bn. HMRC says work is continuing on estimating figures for the offshore tax gap.

But here’s the catch: the vast bulk of this “compliance activity” is focused on the poor, not the rich – because if you’re poor, you’re easy pickings and won’t put up much of a fight when money is taken off you by the government. Am I right?

Is it good government? Or is it gangsterism?

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One Comment

  1. oeggame1 February 18, 2024 at 2:01 pm - Reply

    Yet just look at pm his family’s raking it in while the self employed gets hammered something’s wrong with our system being run by these gangsters

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