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UK Announces New Anti-Avoidance Tax Forces

by Robert Lee, Tax-News.com, London

22 November 2012


The UK tax authority, HM Revenue and Customs (HMRC) has announced specialist task-forces to tackle tax avoidance in the UK clothing trade, alcohol industry and rental property sector, expected to recover around GBP17m (USD27m) in revenue.

HMRC has being using task-forces as part of its anti-avoidance crackdown since May, 2011, and has launched 30 so far. The task-forces bring together various HMRC compliance and enforcement teams for intensive bursts of activity targeted at specific sectors and locations where there is evidence of a high risk of tax evasion. The government has earmarked GBP917m for investment in HMRC's tax evasion work, with the aim of raising an additional GBP7bn each year by 2014-15.

These latest taskforces will concentrate on the following: the clothing trade in the Midlands, North Wales and North West, including manufacturing, wholesale, retail and textile recycling; the alcohol industry in Scotland, including Aberdeen and Inverness; and the rental property sector in the South East. Together, they are projected to bring in GBP17m in revenue, with the rental property sector task-force expected to generate GBP4m, the clothing trade task-force GBP9m and the alcohol task-force GBP4m.

According to Exchequer Secretary David Gauke, HMRC is on target to collect more than GBP50m as a result of task-forces launched in 2011-12.

TAGS: compliance | tax | tax compliance | tax avoidance | real-estate | United Kingdom | enforcement | tax authority | revenue statistics | retail

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