HMRC has been on quite a campaign cracking down on tax avoidance, the latest targets include legal professionals of London or strangely, those that work in the motor industry in Scotland.
It’s thought that there is revenue of three million pounds which is owed by barristers and solicitors operating in London alone. Although 3 million might seem like a large figure it’s only a fraction compared to the gargantuan figure of nineteen and a half million pounds which is sought by HMRC in its latest tax clampdown, the tax-man has been taking big steps to call those responsible for unpaid taxes into check all across the UK.
Who is HMRC after?
If you aren’t a lawyer from London don’t rest easy just yet, retailers and grocers of Southern and Northern Wales and also in the South West of England, restaurant businesses in the South East, hair and beauty professionals in the North East, and the motor trade in Scotland are all being actively chased up for unpaid taxes. These area’s and business types have been identified by HMRC as being high-risk, a polite way of saying; those most indebted to the taxman.
These businesses have been targeted because they’re either not paying their taxes at all or paying the wrong amount. HMRC is going to be taking great steps in what has been referred to as “intensive bursts of activity” in these areas of business. It’s almost a certainty that if your business falls within one of these categories that you’re likely to have a visit from HMRC and most likely be put to investigation.
It’s Been Done Before.
Don’t be mistaken thinking you’re safe.
As of May 2011 HMRC has increasingly sought to chase after those companies and individuals who are causing problems and it has been putting into place task forces and special programs to do its best to catch up with all of them. The taxman has already been looking into clothing industry, scrap metal or motor trade industry, restaurateurs, landlords, market traders even Ebay retailers.
All of this means that they are now very active in seeking erroneous or failed taxes aiming to pull an amazing seven billion pounds in each year heading into 2015. This comes after a substantial investment by the government so that HMRC is better equipped and more capable of taking the action required to find those that it views as problems in the tax system.
So, What if HMRC finds you?
There are many campaigns are being put into place across the internet and TV channels to alert people to the fact that HMRC is on a mission to find and expose tax dodgers. In the eventuality that you are pulled up my HMRC and you are through their investigations found guilty of tax evasion you’re likely to face a significant fine and possibly a criminal investigation.
Within the information released by HMRC there are many warnings:
Mike Eland (Director general for enforcement and compliance at HMRC)
“Those deliberately evading tax, be warned that HMRC is coming after you.”
“This is not an empty threat – HMRC can and will track you down if you choose to break the rules.”
