Landlords and rag traders fall under HMRC's spotlight

Pub and property landlords are amongst the latest groups to be targeted by HMRC taskforces into tax evasion in the UK.

Those in the textile industry, also known as rag traders, including manufacturers, wholesalers, retailers and those involved in textile recycling, will also come under its spotlight which focuses on specific regional locations.

It hopes to recover around £17 million from these taskforces alone, with HMRC on target to collect more than £50 million from the 30 taskforces that have been launched since 2011.

Exchequer secretary David Gauke said that while the vast majority of people pay their share of tax, 'a small minority do not pay what they should.'

"We will not tolerate tax evasion and will crack down on the minority who choose to break the rules," he said.

It forms part of the Government's £917 million spending review to tackle tax evasion, avoidance and fraud from 2011.

The specialist taskforces will undertake investigations and spot checks on business records in specific high risk trade sectors and locations in the UK including:

  • the rag trade industry in the Midlands, North Wales and North West,
  • the alcohol industry in Scotland
  • the rental property sector in the South East

The latest taskforce comes alongside the launch of a major HMRC advertising campaign being rolled out throughout the UK against those not paying the correct amount of tax.

Its billboard campaign specifically targets those who have undeclared income, including income from second jobs, investments and hidden assets.

We can help keep your business records up to date and help you declare your income.