New taskforces to target tax cheats

HM Revenue & Customs (HMRC) has launched five new taskforces around the country to tackle tax evasion in sectors including fast food, property rentals and scrap metal dealing.

Announcing the taskforces on 7 November,Exchequer Secretary David Gauke said honest businesses had nothing to worry about but warned: “We will not tolerate those who break the rules.

“It doesn’t matter who you are – HMRC can and will track you down. You will face a heavy fine, a possible criminal prosecution and ultimately jail.

“Taskforces are a direct result of the government’s £917 million spending review re-investment to tackle tax evasion, avoidance and fraud, which aims to raise an additional £7 billion each year by 2014/15.”

The five taskforces will target:

• scrap metal dealers in Scotland, focusing on those who are deliberately suppressing their income or inflating expenditure to evade paying tax
• construction traders who are self-employed or run their own company who suppress sales or over-claim expenses in the North West and North Wales
• taxpayers not submitting their statutory returns for corporation tax, income tax self assessment, PAYE and VAT in the South East
• fast food outlets deliberately falsifying their records and mis-declaring their true sales levels to avoid paying the correct taxes in Scotland
• landlords – owning or renting three or more properties – evading their tax responsibilities in North West and North Wales.

Link: Fighting fraud and tax evasion