A One Time Opportunity For UK Tax Offenders In Some Trades To Put Their Affairs In Order

The United Kingdom tax authority HMRC, very likely in response to significant criticism it has received in the media during the last few years relating to a huge back-log of unpaid taxation, has now set up task forces to focus on taxation dodging in particular trades, it has declared. There have been current extensive allegations of chronic under-staffing and ineptitude inherent in the administration systems being employed by the tax office. Additionally revelations of billions of pounds worth of tax which has not been gathered along with numerous media stories of high profile organizations steering clear of UK tax by the use of 'overseas' operations. The new government, that has been in position for a year has now had time to assess matters and set in place remedies which they trust may drastically boost the United Kingdom tax income. This is a result of resources ring-fenced in last year's Spending Review, which the Treasury claims may generate £18bn by 2014/15.
Along with focussing upon certain trades, the action teams will be regionally centered, to begin with working in London and then the North West and Scotland in the coming weeks. A further nine task forces are planned for next year with additional in subsequent years.
The particular markets impacted at the start are dining places, building and construction. These have for several years been the trades that are recognized to have a high level of cash centered dealings which it is implied are not too difficult to cover up and thus not incur a taxation liability. In planning for this new level of targeted activity the tax office has provided an amnesty period to certain markets. Specifically the plumbing, gas fitting and heating industries have been presented a period of 6 weeks to voluntarily pay any outstanding money before their affairs are looked at in minute detail. Any amounts then adjudicated to become due will likely be non-negotiable, so it's advisable for all those businesses who may have been somewhat laid back regarding their taxation matters recently would be well advised to consider quick action in this respect. Particularly because any amounts discovered to have been late will not only be immediately due, but also considerable arbitrary penalties will probably be applied when the amnesty has expired.