Rag trade to be targeted by HMRC taskforce

21st November 2012

The rag trade in the Midlands, north Wales and the north-west of England is to be studied by HM Revenue and Customs' (HMRC) latest taskforce, it has been announced.

Businesses in manufacturing, wholesale, retail and textile recycling in these areas could have their records checked in the coming months as the department looks to track down tax cheats.

While the majority of enterprises will remain unaffected, HMRC believes it can recover £9 million as part of its taskforce scheme.

David Gauke, the Exchequer Secretary, explained that those doing wrong will be caught.

"The vast majority of people play by the rules. We will not tolerate tax evasion and will crack down on the minority who choose to break the rules," he insisted.

"It cannot be fair that, while most people are paying the right tax, a tiny minority are not paying what they should."

HMRC also announced plans to set up taskforces for the south-east property sector and the Scottish alcohol industry earlier this week.

Posted by Thomas Fletcher

Call us today to make an appointment at your local office

0800 0523 555

Or submit an enquiry