At Tax Rebate Services we’re often asked what an HMRC taskforce is and does. In 2011 HMRC brought in taskforces to target tax evasion in specific industries. More than 90 million pounds has been recovered so far in undeclared income tax. The success has meant more are underway, with the expectation that another 90 million can be reclaimed in the next three years.
What industries are being looked at by HMRC?
- Midlands second hand motor trade
- Private security industry in the South East and London
- Construction industry in London
- Offshore accounts and other hidden wealth in the Midlands
What is an HMRC taskforce?
Some of the main elements of the taskforces include:
- Any review can involve Income Tax, Corporate Tax, VAT, NIC and PAYE.
- Local knowledge and risk profiling will be used
- Teams will have members from different HMRC departments such as local compliance, criminal investigations and specialist investigations
- Formal disclosure will not be available
What can happen under a taskforce enquiry?
Under an investigation HMRC have the power to:
- Undertake in depth searches into tax and business records
- Publish the name of anyone found guilty under the publishing names of deliberate defaulters initiative
- Use a range of criminal and civil and criminal agreements against anyone found to be evading tax
