OVER 150 CFO AND SENIOR FINANCE EXECUTIVES PERSONALLY FINED LAST YEAR BY HMRC

An article from Out-Law on 12th June reported that HMRC is increasingly targeting the most senior executives as part of its efforts to hold individuals at large businesses to account, with 152 CFO and senior finance executives personally fined for tax accounting failures in the year ending 31st March 2018.  The Senior Accounting Officer (SAO) regime, introduced in 2009, allows HMRC to issue fines of £5,000 to the most senior accounting officer in qualifying companies if they fail to properly “account for their business’ income and expenditure” for tax purposes.

https://www.out-law.com/en/articles/2019/june/cfos-senior-finance-executives-personally-fined-hmrc/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s