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HMRC targets security industry and others

23 Sep 2013

HMRC is to target those in the private security industry as part of the next wave of taskforces.

The taskforce, which is aimed at security guards, bouncers and their employers, will focus on workers in London and the South East. HMRC states that it has seen an increased risk of fraudulent VAT repayment claims being submitted by the private security industry and the taskforce is expected to recover £10 million.

Other taskforces being launched today to tackle tax evasion will target:

  • the construction industry in London – set to bring in £3 million;
  • hidden wealth in the Midlands – including people with offshore accounts and those living lifestyles beyond their obvious means through assets from undeclared income. This will recover over £3 million; and
  • the hidden economy in the second-hand motor trade in the Midlands – which will recover over £3 million.

HMRC has collected more than £90 million as a result of taskforces launched since 2011-12. It expects to bring in over £90 million per year from taskforces launched over the next three years.

HMRC’s Jennie Granger, Director General of Enforcement and Compliance, said:

HMRC taskforces are deployed in sectors and areas where we’ve detected a high risk of tax evasion. If you have declared all your income, you have nothing to worry about. But, if you haven’t, we will find you, investigate you and not only could you face a heavy fine, but a criminal prosecution as well.

Written by Richard Nelson LLP

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