HMRC targets tax evasion in NI restaurant trade

Her Majesty's Revenue and Customs (HMRC) has set up a special task-force to target tax evasion in the Northern Ireland restaurant trade.

A significant sum of money has been made available to the HMRC over the past two years to help tackle tax avoidance and tax evasion, the latter costing the Treasury approximately £9billion per year. Task-forces have been set up to target trade sectors in certain areas of the UK where tax fraud is thought to be prevalent. It has been estimated that the HMRC is losing £3million a year in tax from the restaurant trade in Northern Ireland, and the new task-force set to deal with the industry includes specialist criminal and hidden economy investigators.

The task-force teams may arrive at restaurant premises in Northern Ireland to examine their records and investigate the details of their earnings compared to the tax currently being paid. The restaurant trade has suffered badly during the recession and the months that followed, with many premises closing their doors and employees made redundant. Those who are surviving the current financial pressures could now face themselves with the added problem of the taxman arriving at their door.

If you require information or advice in respect of a tax matter, contact Wilson Nesbitt in Belfast or Bangor by calling 0800 840 9288.