VAT rule breakers targeted in new campaign
Taxman targets individuals and businesses that should register for VAT
AN INITIATIVE to catch VAT rule breakers has been launched by the taxman.
The scheme intends to target individuals and businesses that are trading above the VAT threshold but have not yet registered for VAT.
Discussions have been launched with interested parties to help inform HMRC prior to the scheme’s launch in the summer.
“Our aim is to get as much input as possible into our future campaigns so that the views and experience of people and organisations outside the department play a fuller part in what we design for customers,” said HMRC director of risk and intelligence Mike Wells.
The current VAT threshold is £73,000 turnover on a rolling basis.