The legal profession in London is among those being targeted by new HM Revenue and Customs (HMRC) taskforces as the UK government seeks to recover around GBP20m (USD32m) in tax from a variety of schemes.
Taskforces are specialist teams that undertake intensive bursts of activity in specific high risk trade sectors and locations in the UK. HMRC began using taskforces in May, 2011, drawing on GBP917m set aside by the government as part of a spending review investment to tackle tax evasion, avoidance and fraud from 2011-12. The government's aim is to raise an additional GBP7bn a year by 2014-15.
Together, these latest taskforces are expected to generate GBP19.5m. They will concentrate on a number of areas, including the legal profession in London and the grocery and retail trade across Wales and the north and south west of England, the latter of which will bring in an additional GBP7m. A crackdown on tax avoidance in the hair and beauty trade in north east England will raise a projected GBP3.5m, a restaurant taskforce concentrating on the south east and the Isle of Wight GBP2.5m, and a Scottish motor trade taskforce GBP3m.
Announcing the taskforces, Exchequer Secretary David Gauke said: “We have made it clear that we will not tolerate tax evasion and we are determined to crack down on the minority who choose to break the rules."
Mike Eland, HMRC’s Director General Enforcement and Compliance, added: "These taskforces bring together specialists from across HMRC to find people who are not paying what they should. We are on target to collect more than GBP50m as a result of taskforces launched in 2011/12.”.
TAGS: tax | business | tax compliance | United Kingdom | tax avoidance | compliance | retail | tax authority
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