Everyone’s talking about how technology is changing the way we live and do business. Tax authorities continue to use technology and data analytics to gain superpowers.

The fourth industrial revolution is so much more than technological advancement and replacing humans in the workforce, it is in fact far more complex, exciting and enabling than that.

There’s no doubt that corporation tax is important, but it’s not the only business tax: in 2019 there were 22 business taxes borne by the 100 Group (broadly the FTSE100). And while it’s true that corporation tax amounts have fallen over time, in the aftermath of the financial crisis and with falling statutory rates, total taxes borne have increased from £19bn in 2005 to £26bn today.

HMRC have invested in resources to increase audit enquiries and increase scrutiny in relation to Senior Accounting Officer (SAO) and approval requests for Authorised Economic Operator and Customs Warehousing. Here, we look at a recent wake-up call.