HMRC have recently announced several new taskforces that will be concentrating on different trades in different areas throughout the country.
For London they will be targeting the property market – covering rentals and property transactions.
For the South East the team will be targeting overdue tax returns.
The taskforces are teams of tax investigators who target specific areas and trades with one to one visits. Typical teams include specialists in each area of tax, as well as computer experts to assist in accessing business records.
If your tax affairs are up to date and you have an agent acting for you then the visit may be able to be limited or even cancelled. Your agent will speak directly with HMRC on your behalf to answer the initial questions that the taskforce has.
If you know anyone who is behind with their tax, now is an ideal opportunity to get up to date – particularly with the current tax amnesty offer that HMRC is running.