Tax Chat - HMRC Crackdown continues – Yorkshire Businesses targeted

HMRC has just announced that a further 6 taskforces have been launched with the aim of recovering more than £23m from “tax dodgers.”

The Revenue have recently been targeting tradesmen and online sales nationwide but are now turning their attention to sectors in specific locations.

Business sectors being targeted in Yorkshire under these taskforces are Taxi Firms and Property Rental Businesses.

If you operate in either of these sectors and have any concerns at all about whether your tax affairs are in order seek advice now – Do Not wait until HMRC approach you!!

If you would like any advice or would simply like to discuss further, please contact Lesley Sutton on 01484 550037 or taxchat@revellward.co.uk.

Blog details

HMRC has been cracking down on a range of trades to ensure that businesses are paying the correct amount of tax.

Recently plumbers and online traders have been targeted but now these additional taskforces will be investigating businesses in specific market sectors in specific locations – and Yorkshire is featured!

In Yorkshire taxi firms have been identified as high risk together with property rental businesses more specifically located in Leeds (although this could extend to the wider area).

Almost 30 companies have already been prosecuted under the initial exercise and HMRC project that they will recover more than £23m as part of this exercise.  What is more there are approximately 20 more taskforces due to be set up between now and April 2013 – we will keep you updated of these as they are announced.

HMRC have stated that they have made it clear that they “will not tolerate tax evasion – everyone needs to pay the taxes they owe in full” and that they are “determined to crack down.”

It is therefore more critical than ever that your tax affairs are in order.

We recognise however that sometimes it is difficult for businesses to know when they need to start paying tax when they start up a business, or even if their trading activities constitute a business.

If you are in any doubt at all as to whether your tax affairs are in order please seek advice now, even if you are not currently operating in one of HMRC’s target areas/sectors as yours could be next.  It is always better to approach HMRC first, do not wait until they approach you as the tax and associated penalties payable will almost certainly be more.

If you would like any advice or would simply like to discuss further, please contact Lesley Sutton on 01484 550037 or taxchat@revellward.co.uk.