TaxCorporate TaxFast food retailers cook books, says HMRC

Fast food retailers cook books, says HMRC

Taxman to put the heat on London-based fast food retailers

LONDON-BASED fast food outlets face a grilling from the Taxman over falsifying records.

The latest taskforce to be launched by HMRC will cast its gaze on outlets it believes are deliberately falsifying records to declare lower than actual sales levels to minimise their tax bills.

“This taskforce comes hard on the heels of one launched last month targeting the restaurant sector in London,” said Mike Wells, HMRC’s director of risk and intelligence. “If you deliberately seek to evade tax, HMRC can and will track you down and you’ll face not only a heavy fine but possibly a criminal prosecution as well.”

The Taxman’s move is its latest attempt to skewer the fast food industry. Earlier this year, HMRC refuted claims that an EU case involving a German sausage seller could open up VAT reductions for the supply of hot food.

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

1m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

8m Emma Smith, Managing Editor
OTS report: Corporation tax should follow accounts

Corporate Tax OTS report: Corporation tax should follow accounts

10m Alia Shoaib, Reporter
HMRC tax evasion assistance requests double in five years

Corporate Tax HMRC tax evasion assistance requests double in five years

11m Emma Smith, Managing Editor
Spring Budget 2017: Making Tax Digital

Business Regulation Spring Budget 2017: Making Tax Digital

1y Shereen Ali, Deputy Editor
Tax fraud loses HMRC £16bn

Corporate Tax Tax fraud loses HMRC £16bn

1y Emma Smith, Managing Editor
HMRC nets £2.6bn in corporate tax from big businesses

Corporate Tax HMRC nets £2.6bn in corporate tax from big businesses

1y Accountancy Age editorial