News: October 2013

Yet More Hmrc Taskforces Launched

HMRC have announced 4 new taskforces that will investigate tax evasion in specific commercial and geographical sectors. The taskforces bring together various compliance and enforcement teams for what they term “intensive bursts of targeted activity”.

The new taskforces will investigate the following:

• Construction industry in London (expecting to raise £3 million)
• Security guards, bouncers and their employers in London and the South East (expecting to raise £10 million, with fraudulent VAT repayment claims identified as an increased risk in this sector)
• Second-hand motor traders in the Midlands (expecting to raise £3 million)
• Hidden wealth / “means” issues in the Midlands (also expecting to raise £3 million from comparing lifestyles to known assets)

As always, if you know anyone involved in the above sectors who are having tax concerns, please ask them to contact us for help.