Launched in May 2011, HMRC's task force initiative focusses on areas where a significant underpayment is identified.
Targeting areas it regards as high risk - restaurants, fast food outlets and scrap metal dealers - each specialist team will undertake an intensive burst of compliance activity to uncover businesses owing tax.
HMRC stated the initiative is "a result of the government's £917m spending review re-investment to tackle tax evasion, avoidance and fraud from 2011/12, which aims to raise an additional £7bn each year by 2014/15."
HMRC has planned 12 taskforces in 2011/12, with more to be announced in 2012/13. Announcements and the returns achieved will be published in our full tax taskforce tracking table - visible to registered AccountingWEB members.
About John Stokdyk
AccountingWEB’s Head of Insight has been with the site since 1999 and likes to spend his time studying accountants’ technology habits. When not nerding out, you can find him exploring obscure indie music and searching for the perfect organic sourdough loaf from his base in Brighton, UK.