At the end of May 2012 HMRC announced that six new taskforces had been created to target tax evasion in a number of specific locations:
• Indoor and outdoor markets in London
• Taxi firms in Yorkshire and East Midlands
• Property rentals in East Anglia, London, Yorkshire and the North East
• Restaurants in the Midlands
These specialist teams are trained to undertake intensive bursts of activity and are expected to recover more than £23m in unpaid tax.
The teams will visit traders to examine their records and carry out other investigations.
Readers whose businesses fall within these new remits may be advised to take a hard look at their record keeping ensuring that all business transactions have been correctly recorded; much better to be prepared. Do not wait for the brown envelope to drop on your doormat…
