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.