We’ve laid out a clear roadmap for HMRC to build a trustworthy, efficient tax system.
A lack of efficient, real-time access to tax data can leave recruitment businesses vulnerable to compliance failures, fraud, and reputational damage. With a relatively insignificant amount of investment, HMRC can enable businesses in the recruitment sector to access real-time, verifiable data on their tax liabilities.
Almost 80% of recruitment businesses said HMRC needs to do more to integrate its systems and simplify its processes.
Three-quarters (75%) suggest they will be looking for technology to help manage compliance and conduct real-time audits.
This whitepaper includes:
- Why the current system isn’t working.
- A proposed roadmap for HMRC to enable a more compliant tax system.
- An overview of how using technology will help address tax non-compliance.
The contents of this report have been raised and discussed with HMRC through our trade body memberships.
“Currently, businesses in the recruitment sector face significant challenges in verifying whether tax liabilities have been accurately reported and settled in their supply chain. This will be made even more challenging with new regulations which seek to enforce stronger measures for tax transparency and accountability.
“As the industry prepares for a new legislative landscape, now is the time to modernise the way we manage tax compliance, which will help ease the burden on the sector, mitigate financial risks and create a more transparent and trustworthy tax system.”
– Dale Simkiss, Non-Executive Director at Finity
