More task forces have been launched by HM Revenue & Customs as part of the continuing crack down on tax evasion.
A further six groups have been created by HMRC which aims to collect £23 million as a result of the initiative. The sectors to be targeted include taxi companies, property rentals, indoor and outdoor markets and restaurants. The areas of the UK which will be under scrutiny include Yorkshire, London, East Midlands, East Anglia and the Midlands.
Traders will receive visits from HMRC inspectors who will inspect company records and carry out investigations. The task forces which were launched in the tax year 2011-12 are thought to be on target to collect £50 million. The Exchequer Secretary, David Gauke said:
“We have made it clear that we will not tolerate tax evasion – everyone needs to pay the taxes they owe in full. We are determined to crack down on the minority who choose to break the rules.
“It is not fair that at a time when most hard-working people are paying the right tax, others are trying to get out of paying what they should.”
During the tax year 2012-13 there will be a further 30 task forces launched. The government invested £917 million to fund action against tax evasion, fraud and avoidance. An extra £7 billion is expected to be collected every year until 2014-15. Businesses which are concerned about the task forces should contact their accountancy services for advice. An accountant has the relevant experience to deal with HMRC tax investigations.