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HMRC taskforces target industry to recover £16m

HMRC has announced the launch of four specialist taskforce initiatives around the country with the aim of recovering a total of £16m in unpaid tax.
The taskforces will target the haulage industry in the Midlands, which is expected to yield £3.5m, and the restaurant trade in Yorkshire and Humber, from which HMRC expects to recover £3.8m.

Next wave of HMRC taskforces target the private security industry

The taskforce – aimed at security guards, bouncers and their employers – will focus on workers in London and the South East. HMRC 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.

Changes for the Self-Employed

Those with no profits chargeable to tax (under Chapter 2, Part 2 ITTOIA 2005) or profits below the new Small Profits Threshold (equivalent to the current Small Earnings Exception level) will no longer have to apply in advance for an exception from paying Class 2 NICs. Instead they will have the option to pay Class 2 NICs voluntarily at the end of the year as liability will not automatically arise.

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