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Taskforces collects £109mn tax in six month period

Taskforce teams, which were established for the purpose of bringing in tax, has collected £109 million within a six-year period, HM Revenue and Customs has revealed.

The number includes £64.9 million that was collected in this year’s first quarter, more than 100 per cent than the figure reported for the same period last year.

The teams have been designed to encourage firms in specific areas and industries to volunteer any outstanding liabilities that may have been generated through local publicity. The taskforces conduct compliance checks, as well as pay visits to businesses, not all of which are announced.

Jennie Granger, director general of compliance and enforcement for HMRC, said that for any business intending to cheat on its tax, a taskforce will catch up with them and that it is fair that every firm should pay what they owe to finance public sevices.

She added:

“We have increasing amounts of intelligence, and are using state-of-the-art digital tools to help us to identify and target high risk areas. This yield of £109m – almost double the figure for the same period in 2014 – shows that our strategy is working.”

The taskforces sound like a menacing presence for any business engaging in tax avoidance. The best and most intelligent way to avoid their wrath would be to ensure that all tax liabilities are being disclosed. Employing the services of an accountant in the Wirral would be a good first step in helping to achieve this aim.

Posted by Peter
October 22, 2015

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