In their major crackdown on tax evasion in the UK, HM Revenue and Customs (HMRC) are investigating 531 UK restaurants located in the North West, London and Scotland.
So far, 159 restaurants in London have been investigated, 150 in the Northwest and 222 in Scotland.
It is said the restaurant campaign has already yielded over £600,000 from less than 10 per cent of the 531 restaurants currently under investigation by the taxman.
45 restaurants under investigation evaded an average of £14,000 each and 22 are now facing possible criminal prosecution.
Backed by Government funding of £900m, HMRC have set up new specialist task forces to perform tax investigations into UK businesses and the self-employed.
Upon announcing the new specialist unit in May 2011, Mike Eland, Director of General Enforcement and Compliance at HMRC, said:
“These task forces are a new approach which uses HMRC’s resources to identify and tackle rule-breakers and evaders swiftly and effectively.
“Only those who choose to break the rules, or deliberately evade the tax they should be paying, will be targeted. Honest businesses have nothing to fear.
“The message is clear, if you deliberately seek to evade tax, HMRC can and will track you down and you’ll face not only a heavy fine but possible criminal prosecution as well.”
So far, the majority of tax evading restaurants HMRC have discovered are located in Scotland. The Revenue is now said to be extending tax investigations of restaurants suspected of tax evasion to a further six parts of the UK.
Kevin Kinsella Jnr, of KinsellaTax, said:
“I would urge any restaurant owners who have not yet been targeted by HMRC to make sure their financial records are up to date, including VAT payments, payroll and business expenses, as these transactions will come under scrutiny by the tax man should HMRC suspect tax evasion and launch a tax investigation into their affairs.
“If you receive a letter from HMRC inviting you to a meeting or asking you to call them, make sure you contact KinsellaTax who will speak to HMRC on your behalf.”
Are you a restaurant owner suspected of tax evasion by HMRC?
Don’t bury your head in the sand, call KinsellaTax now on 0800 471 4546.
KinsellaTax staff consists of ex-HM Inspector of Taxes and ex-HM Custom and Excise Officers, fully experienced in HMRC investigations.
None of our clients have ever been criminally prosecuted for tax evasion.
Pick up the phone and dial 0800 471 4546 and speak with a tax evasion expert at KinsellaTax today.