HMRC have this morning announced their intentions to tackle VAT fraud in fast-food outlets in the capital . . .
According to a press release on their website, they have identified a trend in fast-food restaurants falsifying records and deliberately understating takings in order to avoid paying the correct amount of tax due.
Mike Wells, HMRC’s Director of Risk and Intelligence, said:
“This taskforce will come down hard on fast food outlets that have chosen to break the rules and evade the taxes they should be paying. Honest businesses have absolutely nothing to worry about.”
This is just the latest crackdown in recent months, following the introduction of a crackdown on restaurants they believed to have under-declaring profits and also not paying the correct amount of PAYE tax.
The crackdowns from HMRC have been introduced as a result of the Government’s pledge to dedicate £900 million to tackling tax evasion and they aim to raise an additional £7 billion each year by 2014/15.
Kevin Kinsella from KinsellaTax, said:
“Where are the staff to carry out yet another special enquiry into the fast-food business.
Is this just the public relations of HMRC with another press flash or is there some substance in the ‘crackdown’?”
KinsellaTax have a team of ex-Inspector of Taxes and ex-Customs officers ready to take your call 24 hours a day on 0800 999 9980.
We are here to give you support should HMRC come knocking on your door.
If you are worried that you are going to be included in HMRC’s latest Tax Evasion crackdown or have already received a visit from the taxman then get advice NOW.