Partner Article

HRMC announces launch of tax taskforces

HM Revenue & Customs have today announced a series of targeted taskforce campaigns to combat tax evasion in specific trading and geographical areas, in a move which could recover up to £25 million in unpaid tax.

Specialist teams will target areas including indoor and outdoor markets in London, taxi firms in Nottingham and Yorkshire and restaurants in the Midlands.

Paul Roberts, Head of Tax Investigations at Grant Thornton said: “HMRC has been gathering intelligence on tax evasion for the last year or so using ‘web crawler’ technology and is likely to have already identified several traders they plan to investigate.

Traders who have not registered with HMRC, or who have concerns that they may have understated the profits they have declared, should seek professional advice and consider making a disclosure to HMRC as soon as possible to reduce the chance of a potential prosecution and to mitigate the penalty which may be due.

This was posted in Bdaily's Members' News section by Ruth Mitchell .