Irony - SFO Fined by HMRC

 

The Serious Fraud Office has had to pay more than £4M to HMRC after wrongly reclaiming value added tax on fees paid to barristers and other contractors.

 

The FT states that the SFO had to pay HMRC a fine of £564,000, and make an underlying tax repayment of £3.8M plus interest.

Ironically the SFO had to request £19M in emergency funding from the Treasury in part to help cover the tax fine.

One government department paying another government department a fine, using taxpayers' money.

The net result to the taxpayer?

A loss, given that this has cost time, money and resources to resolve!

Tax does have to be taxing.

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