HMRC crackdown on jewellery trade tax dodgers

Taskforces are specialist teams that undertake intensive bursts of activity in specific high risk trade sectors and locations in the UK. The taskforce assigned to confront midlands jewellery trade tax evaders aims to recover £2.5 million.

“This taskforce is targeting people who are not playing by the rules. Most of us pay what we should. We have made it clear that we will not tolerate tax evasion and will crack down on those who break the rules,” said the exchequer secretary to the treasury David Gauke.

“HMRC is on track to collect more than £50 million as a result of taskforces launched in 2011 – 12. We expect over £90 million from this year’s taskforces.”

HMRC’s Jennie Granger, director general enforcement and compliance, added: “Most people and businesses voluntarily comply, so it is important we deal firmly with those who don’t.

“The message is clear – if you choose to defraud the tax system or seek to evade tax, we can and will track you down. You will face not only a heavy fine, but possibly a criminal prosecution as well.”