HMRC won’t be taking a break over festivities this summer; it is instead launching new taskforces in the hope of recovering up to £30 million from traders who are paying the incorrect amount of tax.
Its taskforce programme specifically targets those they deem as ‘high risk’ sectors and areas of the country. The aim of taskforces is to end tax evasion among SMEs, by focusing on a ‘high-risk’ trade, where cash in hand transactions are common.
The specialist teams will investigate businesses with powers allowing them to carry out spot checks and examine business records. The latest scheme will particularly focus on:
- Indoor and outdoor market traders in London
- The motor industry in South Wales, Yorkshire, Nottinghamshire and the North East
- Scottish pubs and clubs
- Hairdressers and beauticians in Northern Ireland
- Taxi firms in Yorkshire and East Midlands
- Property landlords in East Anglia, London, Yorkshire
- Restaurants owners in the Midlands, South West and South Wales.