Our Manchester accountants are ready to help owners of ‘rag trade’ businesses in the north-west, where HM Revenue & Customs has launched a crackdown on unpaid taxes.
Since May 2011, 30 specialist taskforces have been launched by HMRC to address specific areas of enforcement in high-risk industries.
On November 19th, several of these taskforces were introduced, including one focusing on landlords in the south-east and one for the Scottish alcohol trade.
For the north-west, it is the rag trade – manufacturing, wholesale, textile recycling and retail – that is the area of interest, as in North Wales and the Midlands.
Jennie Granger, director general enforcement and compliance at HMRC, says: “HMRC is serious about tackling people who are not paying what they should.
“Anyone deliberately evading tax should watch out – HMRC is closing in on tax cheats.”
In many cases, you may simply not be aware of what your tax liabilities are, and our Manchester accountants can help you to review your accounts and make sure they are all in order.
Do so now, and you may be able to approach HMRC voluntarily – and receive a lighter penalty than if they choose to investigate you and impose subsequent enforcement.