Services
Audit & Assurance
External, internal and joint venture audit services
Business Advisory
Management accounts, strategic planning, profit improvement, ESG
Corporate Finance
M&A advisory, selling a business, fundraising, valuations, due diligence
ESG
Baseline assessments, materiality assessments, carbon footprint and sustainability reporting
Hotel Accounting
Accounting function, automation, daily reconciliations and dashboards, accounts payable
Payroll & Employment
Payroll, global mobility, employee benefits, employment taxes
Private Clients & High Net Worth Individuals
Tax planning & compliance, tax residence and domicile, trust planning
Restructuring & Recovery
Business rescue, liquidations, administrations, insolvency, debt recovery
Tax
Corporate tax, customs duty, VAT, R&D, tax investigations, international tax
Virtual Finance
Bespoke service providing real-time information about your business performance
More from AAB
AAB PEOPLE
Full-service people consultancy – human resources, learning and development
AAB WEALTH
Financial planning, cash flow modelling, retirement planning
AAB Consulting
Business consultancy helping organisations with the challenge of change
Sectors
Business Services
Professional services, medical, recruitment and media
Construction & Property
Property developers, construction companies, housebuilders, landlords
Energy
Renewables, clean energy, energy producers, energy transition, exploration and production
Family Business
Specialist support for businesses owned/managed by families
Food & Drink
Food & drink producers, processors, importers, wholesalers and retailers
Industrial
Engineering, manufacturing, aerospace, automotive, shipping, distribution
Leisure, Retail and Hospitality
Fashion, entertainment, activity centres, hoteliers
Not For Profit
Charities, social housing, higher and further education institutions
Public Sector
Government, non-departmental public bodies, health boards, ALEOS
Technology
Software companies, tech start-ups, cybersecurity firms, and AI innovators.
About
AABout Us
Our story
Our Team
Meet the specialists
Careers
Join the AAB team
Diversity & Inclusion
Building a business where everyone feels they belong
Growing Sustainably - ESG
ESG – Our commitment to building a sustainable business
News
Latest news from across AAB Group
AABIE
AAB charitable initiative
Latest deal boosts AAB Wealth assets under advice beyond £1 billion
Insights
Blogs
Stay informed with cutting-edge news for business growth. Our experts offer industry insights and invaluable advice on accountancy and business strategies.
Case studies
Explore insightful case studies tailored to specific industries, offering invaluable lessons and strategies for success.
Webinars & Events
Engage with dynamic webinars and events tailored to your interests, offering valuable insights and networking opportunities.
ESG Diligence: The Key To Sustainable M&A Transactions
AAB / Blog / HMRC Toughen Its Stance – Additional HMRC Task Forces & Criminal Prosecutions
BLOG11th Jun 2020
HM Revenue & Customs (HMRC) specialist task forces are believed to have collected over £540 million in extra tax revenue in the last financial year. Since their inception in 2011 there have been well over 100 different task forces focusing on a variety of sectors where HMRC believe tax evasion is rife, such as the restaurant trade, the haulage industry, the fishing industry, and the property & construction sectors!
Task force activity was suspended briefly during the COVID-19 pandemic, but with HMRC looking to recover an extra £4 billion in tax over the next 5 years there is no question that task forces will play a major role in recovering additional taxes for The Treasury once the UK emerges from this crisis.
During the COVID-19 pandemic the government has provided a whole range of support to businesses, employees and self-employed individuals, such as the Job Retention Scheme (JRS) and the Self Employed Income Support Scheme. Clearly the cost to the Exchequer has been enormous, and HMRC will no doubt seek to increase tax revenues to cover this. Unfortunately soaring financial pressures, and an unprecedented level of government support, has also created a perfect storm for fraudulent claims and activity. For example, HMRC recently announced they have already received reports of over 800 employers fraudulently claiming money from the JRS.
In view of all of this, HMRC have already stated that there will be an increase in criminal investigations where they believe fraudulent behaviours exist. This means that in addition to recovering taxes, interest and financial penalties, HMRC will look to prosecute those individuals involved.
Whilst this does not affect the vast majority of the UK population, we would certainly recommend reviewing your tax affairs to check for any errors in your tax reporting, or claims. There are still a range of voluntary disclosure options open should you have a disclosure to make to HMRC. Potential prosecution can be avoided, and financial penalties can be minimised if a disclosure is made to HMRC in advance of receiving any letter, or visit from HMRC Inspectors.
By Stuart Petrie, Tax Director and Head of Tax Investigation & Dispute Resolutions at AAB
SPEAK TO US ABOUT TAX INVESTIGATIONS
How AAB can help you with
HMRC’s powers allow them to investigate the tax affairs of any individual or business. We understand this can be difficult and distressing, but we’ll support you throughout an enquiry, working hard to minimise any penalties. Our team members have many years’ experience of dealing with tax investigations, from both working for HMRC and spending a significant amount of time advising our clients.
Related services