The taxman may get new powers of arrest and search and seizure, reports The Times
HM Revenue & Customs proposals put forward would enable tax investigators to arrest suspected fraudsters, take fingerprints, bail suspects, and search people and premises without police assistance, the paper writes.
The changes are the result of the department’s aim to bring similar powers to tax inspectors as those already enjoyed by customs officers, amid concerns at HM Treasury that the former have traditionally taken too soft a line against tax evasion.
The Times notes the Treasury is seeking to force Barclays to open up its records on customers with offshore accounts, and that other banks look set to follow suit as the chancellor looks to recoup an estimated £1.5bn in unpaid taxes from such accounts alone.
Auditors and tax consultants contacted by the paper say the moves are likely to lead to an “us and them” relationship with HMR&C in future.
THE TUC HAS brought up the issue of older workers, writes The Scotsman, which reports on the union organisation’s latest suggested employment data.
People aged 50-65 are still being left “on the scrapheap” because of a lack of investment in retraining.
The TUC says up to a million people are affected in the labourforce.
This un-necessary economic inactivity could also cost the rest of the country dear and scupper government plans to reduce spending in areas such as pensions, because raising the retirement age will not improve the situation if older employees face continued barriers to extending their working lives, the TUC warns.
ON A MORE cheery note, The Scotsman also reports other figure suggesting the local economy is picking up.
A Lloyds TSB survey of more than 2,000 businesses nationwide found Scottish ones are increasing their profits faster than similar-sized businesses in other parts of the UK.
Manufacturing has seen big gains, the report suggests, as companies have been able to pass on higher input costs, which have been rising on the back of higher commodities and other prices.
The news also comes as Standard Life Investments said net sales gained more than 1,000% in its latest quarter reported, helped by increasing recognition among intermediaries, the paper adds.
LATEST NEWS FROM the Middle East seems to be having an effect on the oil price, which has dropped over the past day, reports The Daily Telegraph Having some oil trickle in from Alaska’s Prudhoe Bay oil field is helping, but refiners on the US West Coast are still calling on the US government to release some of its so-called strategic reserves.
An oil company analyst is quoted saying the “nightmare” facing the industry is Los Angeles running out of petrol at the pumps.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Jonathan Boyd on 020 7484 9769 or email [email protected].IFAonline
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till