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Tax Tip

HMRC Clampdown the next target.09/06/2011

The HMRC (HM Revenue and Customs) is not losing momentum in its quest to raise an extra £7bn each year by 2014/15 which was the target issued from the Coalition Government.
 

To achieve this, their latest target is – Restaurants.
 

They will be clamping down on restaurant owners who are deliberately evading paying tax. HMRC is likely to impose high penalties and conduct prosecutions on any they find in breach of tax legislation.
 

It remains to be seen how much this will raise and indeed how HMRC will undertake this when it has had its own resources restricted during the spending cuts. But as Stuart Coleman, Manager of the Tax Department of ABDS says:
 

“If there are businesses in the Southampton and Hampshire area who are unclear whether they are in a vulnerable position, they would do well to seek advice as early as possible."
 

If you need any help and advice for your business or financial planning don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help.
ABDS of Southampton, for all of your Tax Planning, Compliance and Tax Returns.
Tel: 023 8083 6900  E-mail: abds.marketing@netaccountants.net
For a full list of ABDS’ News Briefings go to: www.netaccountants.net

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