What are taskforces?
A taskforce is a highly focused burst of activity by HM Revenue & Customs (HMRC) which targets specific industries or locations where there is evidence of tax evasion.
Since the first taskforce in 2011, HMRC has collected more than £80 million and expects to bring in over £90 million per year from taskforces launched between 2013 and 2015.
Some of the industries and areas targeted so far include medical professionals nationally, property transactions in Greater London, landlords in the North West, and hauliers in the West Midlands.
Who is involved?
Taskforces often involve HMRC working closely with other government departments, pooling their combined knowledge and expertise.
They have generated more than 1,000 press articles across TV, local and national media, to reinforce their message that they are cracking down on tax evasion.
What should I do?
If you are concerned that a taskforce is operating in your area and you have something to declare to HMRC you should seek professional advice and consider making a Voluntary Disclosure.
By taking the initiative you can keep the disruption that such activity can cause to a minimum and keep your tax, interest and penalties to a minimum and your professional costs down.
How we can help
We can assist you in making a full and complete Disclosure and thereby avoid any risk of prosecution. We will establish all the relevant facts and negotiate any settlement of tax, interest and penalties with HMRC.
If you wish to discuss this or any other matter with a member of the team, please contact us.