Another round of task forces have been announced by HM Revenue & Customs (HMRC) this afternoon.
Task forces are multi-disciplined specialist teams who target individuals and businesses in geographically specific locations across the UK. The latest task forces are focused on:
The Road Transport Industry – the South East and South. HMRC expects to bring in £3.75 million by targeting individuals and businesses across South Buckinghamshire, Berkshire, Dorset, Hampshire, the Isle of Wight, Kent, Surrey and Wiltshire who are selling/using illegal fuel and failing to declare the income arising.
Hidden wealth/’means’ issues – the South East and South. An identical task force is currently active in the Midlands, where HMRC is pursuing people who are suspected to be living beyond their declared ‘means’. HMRC is also aiming to tackle people with offshore accounts as part of this task force, which is focused on South Buckinghamshire, Berkshire, Dorset, Hampshire, the Isle of Wight, Kent, Surrey and Wiltshire and is expected to deliver £2.8 million.
Fraudulent VAT repayment claims – the North East, Lincolnshire, South Wales and South West England. HMRC has seen an increased risk of fraudulent VAT repayment claims, with businesses being set up purely for the purpose of making false VAT repayment claims. £6 million is anticipated from this particular task force.
Jennie Granger, HMRC’s Director General of Enforcement and Compliance, said:
‘ Deliberately not declaring your income is serious. Our message is – do the right thing. If you haven’t already, come clean now. If you don’t, we will find you, investigate you and, not only could you face a heavy fine, but you may face criminal prosecution as well.’
David Gauke, Exchequer Secretary to the Treasury, said:
‘ We are determined to support hardworking people who want to get on, but the people being targeted by these taskforces have no intention of playing by the rules.
‘This Government has made it clear that we do not tolerate tax evasion and has provided HMRC with the resources to crack down on those who break the rules.’
A further 16 task forces are planned for the remainder of 2013/14, with up to 30 planned for 2014/15.
A copy of the HMRC press release about the Road Transport Industry task force can be viewed here http://abytx.co/1aDI0k2
A copy of the HMRC press release about the Hidden Wealth task force can be viewed here http://abytx.co/I2PfbT
A copy of the HMRC press release about the Fraudulent VAT repayment claims task force can be viewed here http://abytx.co/18kK6pd
Author: Guy Smith, Senior Tax Consultant on the ReSource Tax and VAT Consultancy Team.