Member Article

HMRC announce further measures around tax evasion

HMRC have announced the creation of 30 new taskforces throughout the UK to tackle their fight against tax evasion.

The taskforces are expected to target specific business sectors in particular geographic locations where there is existing evidence of tax evasion. These sectors are anticipated to be the rag trade, the motor trade, indoor and outdoor markets.

The Exchequer Secretary to the Treasury, David Gauke, said:

“The Government is committed to tackling tax evasion and avoidance. HMRC’s taskforces are cracking down on people who choose to break the rules and creating a level playing field for the majority who play by them. “

HMRC’s Director of Local Compliance, Richard Summersgill, said:

“Taskforces only target people who are at high risk of breaking the rules and don’t pay the tax they owe. We know we’re going after the right people – some taskforces have hit rates of 100% so far. “

The Government have recently invested £917m in reviewing their fight against tax evasion and avoidance. The taskforces are being created as a result of this review.

Solicitor Andrew Swan, financial crime partner at Short Richardson and Forth LLP commented:

“This announcement follows the creation of the new Contractual Disclosure Facility (CDF), which was launched on 31 January 2012. CDF is a mechanism for self-disclosing tax fraud, which allows the party involved to avoid criminal prosecution.”

“The new taskforces are a step further in tackling tax evasion and demonstrate the commitment of HMRC to this issue. I understand they are looking to raise an additional £7bn each year by 2014/15.”

This was posted in Bdaily's Members' News section by Andrew Swan .