HMRC Targets Holiday Industry in Devon and Cornwall

July 16, 2013 - PRLog -- PRESS RELEASE

TO: News Desk

FROM: Robinson Reed Layton

TODAY’S DATE: 11.7.13

FOR IMMEDATE USE

HMRC targets holiday industry in Devon and Cornwall

Businesses within the holiday sector in Devon and Cornwall should brace themselves for some intensive HMRC activity over the next few months, according to a West Country firm of Chartered Accountants and Chartered Tax Advisers.

James Bailey, Tax Partner at Robinson Reed Layton, explained that HMRC have just announced that one of their “taskforces” will be focusing on the holiday industry in Blackpool, the Lake District, North Wales, Devon and Cornwall.

James explained that in the last few years HMRC has devoted a significant amount of effort to the “taskforce” model of enforcement.

A taskforce is focussed on a specific sector and in some cases will offer a form of amnesty to anyone who has been operating within that sector and has failed to declare their income – recent examples include plumbers and doctors.

James pointed out that it was important to realise that these taskforces do not simply look for people in the “black economy” – they also focus on properly registered and operated businesses to carry out intensive checks of their compliance with a range of tax legislation, such as the operation of PAYE, VAT returns and the keeping of proper business records.

“Anyone operating in the local holiday industry should make sure that their house is in order”, said James.

In addition, if you do not already have it, it would be sensible to see if you can arrange some form of insurance to protect you against the costs of a tax enquiry.

Finally, James stressed that anyone approached by the holiday industry taskforce should discuss matters with their tax adviser before taking any action or agreeing to anything proposed by the taskforce.

“There have been instances where taskforces have approached the business itself and tried to sideline the accountants and tax advisers involved”, explained James, “and although HMRC have given assurances that this will no longer happen, it would still be unwise to assume that HMRC have contacted your accountant when they approach you”.

Businesses in the holiday industry can get further information on how this could affect them by calling James Bailey, Tax Partner at Robinson Reed Layton on 01872 276116.

-Ends----------------------------------------------------------------------------------------------------------------

EDITOR'S NOTES:

Contact: Helen Mulhern at Eventy – Marketing & PR on 01326 376273 / helen@eventy.co.uk

Photo: Please find attached a photo of James Bailey, quoted.  Higher resolution or alternative images available on request.