June 7, 2012

Latest round of Compliance Task Forces announced by HMRC

HM Revenue and Customs have just announced the latest targets of its trade and region specific taskforce campaign.

In May 2011, HMRC said it would be setting up taskforces specifically to look at the affairs of specific trades in specific regions of the UK. First to be targeted was as usual the restaurant trade. Since then HMRC have investigated trades such as scrap metal dealers, fast food outlets and landlords across London and the South.

The new taskforces will be:

  • Indoor and outdoor markets in London
  • Taxi firms in Yorkshire and Nottingham
  • Property rentals in East Anglia, London, Yorkshire and the North East
  • Restaurants in the Midlands

Any errors found could lead to taxed based penalties or if more serious criminal prosecution. Clients who may have businesses in these sectors should come forward early to voluntarily disclose their errors as they will always be dealt with more favourably by HMRC.

We would advise any clients who may be worried to come forward as soon as possible to get matters dealt with before HMRC’s visit.

Elysian Associates
June 2012

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