A recent survey by the National Audit Office has found that 4 out of 10 corporation tax returns submitted to HMRC are incorrect. The Taxman complains that this costs him, on average, £2,700 per return.
However, we at Taxblogger would like to point out to HMRC that many businesses will not be claiming all the tax allowances that they are entitled to. This is typically because either the taxpayer is too busy or they don’t use a good accountant who can point out the allowances available.
Statistics don’t always tell the whole truth!
