Builders most likely to bungle tax returns
Accountants have labelled the construction industry as those most likely to provide incorrect information on their tax returns, according to a new survey.
In a poll by Bloomsbury Professional, a third of those questioned regarded builders as high risk due to frequent use of cash payments and poor bookkeeping.
In November 2011, HMRC launched a new taskforce to tackle tax evasion in the construction industry in the North West and North Wales, claiming some in the industry were over-claiming expenses or suppressing sales.
Plumbers, buy-to-let investors, restaurateurs and electricians, all respectively listed in the poll results, are also some of the additional sectors the department has targeted.
AccountingWEB has provided a full list of HMRC's taskforces to date, which you can view here.