HM Revenue and Customs Restaurant Taskforce

As part of a government spending review and HM Revenue and Customs scrutiny of tax evasion across the economy, a new restaurant taskforce has recently been launched.

The new taskforce will be targeting the restaurant trade throughout the country with the objective of raising £7 billion a year. The main areas the taskforce will be targeting are the compliance and transactional side of the business with the recording of cash transactions and the implementation of the strict PAYE regulations coming under severe scrutiny.

Under the powers that HM Revenue and Customs (HMRC) currently hold a compliance review can be undertaken in to previous tax years as well as during the current accounting period, which adds significant emphasis to the record keeping, income declaration, PAYE and gratuity systems and VAT areas of a business.

If you are concerned that your books and records may not withstand such scrutiny or if you are unsure if you have fully complied with the demands of HMRC, either now or in the past, our team of Leisure and Hospitality specialist advisors can assist you in ensuring that you are and remain fully compliant.

We offer a wide range of services to meet the demands of your business from bookkeeping and VAT compliance to monthly management accounts with profit-forecast that can assist you in the day-to-day running of your business. In addition, we also offer advice on how to develop and grow your business with pro-active tax advice to ensure that you maximise the rewards of your success.