A warning has been issued by Northampton chartered accountants Harris & Co about some new task forces set up by HMRC.
HMRC have set up three taskforces to tackle tax fraud in London, Northern Ireland and East Anglia, with the target of raising £13m in additional revenues.
The London taskforce will be looking at individuals who are fraudulently claiming VAT repayments that they are not entitled to, and is expected to recover over £7.5m in tax as well as deterring future illegal claims. The Northern Ireland team will be targeting the restaurant trade and aiming to find £2.9m of unpaid tax, while the East Anglia taskforce will be looking to recoup some £2.5m from the holiday industry.
HMRC’s Jennie Granger, director general enforcement and compliance, said:
‘Using our award-winning tool, Connect, which brings together over 30 different sources of information, we are able to target specific industry sectors and geographical areas that present the highest risk of tax fraud.’
HMRC have collected over £70m since the initial taskforces were launched in 2011-12, and expects to bring in £90m from taskforces this year.