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HM Revenue & Customs is to launch more task forces in the continuing war against tax evasion and avoidance in the new tax year. As HMRC plans to collect £50 million from its investigations into tax evasion in 2012-2013, 30 additional task forces will be generated this year.

Work is to commence at the start of the new tax year in areas where tax evasion is evident, targeting specified business sectors. Taskforces typically target groups of about 600 taxpayers within each location where there are reported to be high levels of tax evasion. Targets that are most likely for 2012-2013 include indoor and outdoor markets, the motor industry and the clothing trade.
The government originally invested £917 million in order to tackle fraud, evasion and avoidance. HMRC are expected to generate £7 billion a year until 2014-2015. The 2011-2012 tax year saw the introduction of 12 taskforces, expecting £50 million to be collected following their work. However, HMRC expect the figure collected to be much higher, as 13 criminal investigations are on-going. Some taskforces will be distributed to other sectors and locations, such as the taskforce for scrap metal dealers in November 2011.

Richard Summersgill, the director of local compliance for HMRC commented:

“Taskforces only target people who are at high risk of breaking the rules and don’t pay the tax they owe. We know we’re going after the right people-some taskforces have hit rates of 100% so far. Only those who choose to break the rules, or deliberately evade the tax they should be paying, will be targeted.”

Businesses who are concerned should approach their small business accountant for advice.

 

 

 

About The Author

Kara Copple

An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.

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