We’ve all heard the story of the huge multi-national corporate companies that whilst operating very successfully in the UK pay little or no tax.
The latest company to come to light is Facebook, where it has been reported that despite making an estimated £200 million from its UK operations it paid no corporation tax last year! And whilst Facebook tell us “We take our tax obligations seriously..to ensure compliance with local law”, it is tax avoidance in many people’s eyes. And many of us feel it is well, immoral.
But it’s not just huge multi-nationals that are guilty of tax avoidance and the HMRC came up with the idea of launching a series of Task Forces to crack down on tax evasion throughout the UK.
Working in what they describe as “short, sharp, bursts” these task forces are focusing on targeted areas of the country, and in what they are describing as “high risk” industries.
One such Task Force is looking at the property rental market and here at Moore Accountancy we have had first-hand experience in dealing with such a case. We were contacted by a very worried landlord who had been guilty of perhaps not declaring everything as efficiently as they should. With our experience, however, we were able to handle the case with ease.
This is what they had to say
‘We recently engaged Moore Accountancy to resolve our previously undisclosed income from a flat we have been renting out for several years. Sid was wonderful, visiting us at home, spending lots of time going over our books and sorting everything out quickly and efficiently. She liaised with HMRC, and made what was quite a worrying situation into just a blip!!. She kept us informed at all times, without us having to push for info. All in all, even having had to spend money!! it was made almost painless.!!. ‘
It’s not just landlords that have been targeted, so far they have looked at health professionals, the fishing industry in Scotland, taxi drivers in London, hauliers in the West Midlands and the holiday industry throughout the UK, to name but a few, and they have plenty more planned.
How can we help?
We feel that when dealing with the HMRC it is imperative that you get professional advice from the outset and working with a practice like Moore Accountancy is the right place to start. We have not only had experience in working with the HMRC task force but are confident that we can offer you the best advice for your situation.
There’s no getting away with it, yes you will have to pay the tax. But by doing it before the tax man cometh means that you could avoid a heavy fine and the possibility of a criminal prosecution, not to mention a very invasive investigation.
Get in touch with us today, we have a wealth of experience in dealing with the HMRC and therefore understand the process impeccably, it could save you a massive headache and tax bill in the long run.