Yesterday, HMRC launched five more Taskforces bringing to 30, the number operating across the UK. Those now being brought under the microscope are:-
- London lawyers;
- Grocery and retail outlets in Wales, the North West and the South West of England;
- Hair and beauty businesses in the North East of England;
- Restaurants in the South East of England and Solent and
- The motor trade in Scotland.
The Taskforces have been created as a direct result of the Government’s £917m spending review investment to tackle tax evasion, avoidance and fraud from 2011/12. HMRC aims to raise an additional £7 billion every year by 2014/15. They will visit traders to examine their records and carry out other investigations in attempts to counter tax evasion.
More information can be obtained by contacting Richard Green or Tricia Halliday in our Tax Department.