HMRC new taskforce will focus on tax evasion amongst landlords

Bevan & BucklandHMRC have announced that one of their new taskforces will focus on tax evasion amongst landlords who own and/or rent more than three properties and against construction traders.

Two new taskforces in North Wales were announced recently by HMRC. These taskforces will tackle tax evasion by landlords who own and/or rent more than three properties and “construction traders” who are either self-employed or who run their own companies where suppression of sales or over claiming expenses is identified.

Taskforces are special teams that undertake intensive bursts of compliance activity in specific high risk trade sectors and locations across the UK.

Mike Wells, HMRC Director of Risk and Intelligence, said:

“These taskforces will come down hard and fast on those who have chosen to break the rules and deliberately evade the taxes they should be paying. Honest businesses, however, have absolutely nothing to worry about.”

“HMRC is clear – if you deliberately seek to evade tax we can and will track you down and you’ll face not only a heavy fine, but possibly a criminal prosecution as well.”

Taskforces come as a result of the Government’s £900m spending review re-investment to tackle tax evasion, avoidance and fraud from 2011/12, with aims to raise an additional £7bn each year by 2014/15.

HMRC is planning 12 taskforces in 2011/12, with more to follow in 2012/13.

If you would like to discuss this with us please contact me today at jeannette@bevanbuckland.co.uk or call 01792 410101

www.bevanbuckland.co.uk

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