Steven Mugglestone

The more I learn, the less I know

HMRC Target landlords, fast food retailers, construction workers and late filing

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HMRC Announce 5 New Taskforces

HMRC announced five new regional-specific taskforces, in November 2011, as part of a drive to tackle tax evasion.  HMRC state that the industries and regions selected are those where the risk of tax evasion is highest.

Following on from our recent posts,

  • “It is only a matter of time until HMRC finds your undeclared income!”  http://wp.me/pQyUg-4H
  • HMRC are targeting undeclared income for private tutors & coaches.  Act now to avoid hefty penalties: http://lnkd.in/ZkCNuU

HMRC have started to identify and prioritise key industries and regions that they believe include the most tax evaders.

These taskforces demonstrate HMRC’s warning that there is no hiding place for undisclosed income and gains and that it will clamp down very hard on anyone who does not have their affairs in order. Failure to do so will run the very serious risk of prosecution when the designated taskforce identifies an anomaly.

The Government has created these taskforces and has pledged to tackle tax evasion, avoidance and fraud which is planned to raise an additional £7bn each year by 2014/15.

If anyone is concerned they should act now and take specialist advice regarding tax disclosures to see how this applies to them and their business or personal tax returns.  Full disclosure and approaching HMRC with professional support should mean that you will reduce any hefty penalty that would be raised if discovered by an HMRC enquiry.

The new five new taskforces will target:

  • scrap metal dealers in Scotland deliberately suppressing their income or inflating expenditure to evade paying tax
  • self-employed construction traders who suppress sales or over-claim expenses in the North West and North Wales
  • taxpayers not submitting their statutory returns across Corporation Tax, Income tax Self- Assessment, PAYE and VAT in the South East
  • fast food outlets in Scotland
  • landlords evading their tax responsibilities in North West and North Wales.

HMRC is planning 12 taskforces in 2011/12, the first of which was launched in May, and more to follow in 2012/13.

 

Steven Mugglestone BA FCA,
Finance Director Services
McGregors Corporate, Entrepreneurial Chartered Accountants and Business Advisers
…….Really good for your business

McGregors Corporate are a Member of Probiz Tax, providing Innovative Tax Solutions to Owner Managed Businesses.

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steven@mcgregorsbirmingham.co.uk

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Written by Steven Mugglestone

November 17, 2011 at 8:58 am

Posted in HMRC, Tax

Tagged with , , ,

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