Monday 19th November 2012 saw HM Revenue & Customs (HMRC) launch a taskforce to tackle tax cheats in the rental property sector in the South East of England.
The taskforces are essentially specialist teams who target certain high risk trade sectors and locations in the UK. The teams will visit traders to undertake investigations and examine their records. As a result of the work undertaken by the taskforce HMRC expects to recoup an extra £4million from tax cheats in the rental property sector.
Jennie Granger, HMRC’s Director General Enforcement and Compliance, commented that “HMRC is serious about tackling people who are not paying what they should.” Granger warned that those individuals who are deliberately evading tax should watch out as “HMRC is closing in on tax cheats.”
The Exchequer Secretary, David Gauke, added that “it cannot be fair that, while most people are paying the right tax, a tiny minority are not paying what they should. HMRC is on target to collect more than £50 million as a result of taskforces launched in 2011-12.”