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Business and Other Briefings
HMRC: A new taskforce to tackle VAT abuse in London’s fast food outlets was announced last week by HM Revenue & Customs. HMRC has identified that there is a problem with some fast food outlets deliberately falsifying their records and mis-declaring their true sales levels in order to avoid paying the correct taxes.
This is the 4th taskforce launched by HMRC since May 2011. HMRC is planning a further 9 taskforces in 2011/12, with more to follow in 2012/13. The taskforces come as a result of the Government’s £900m spending review investment to tackle tax evasion, avoidance & fraud from 2011/12, which aims to raise an additional £7bn each year by 2014/15.
TfL: Transport for London (TfL) and London 2012 are determined to ensure that businesses can take advantage of the opportunities generated by the Olympics and have announced 2 new programmes to help SMEs & multi-site businesses run smoothly - and minimise any transport challenges - during the 2012 Games. In addition, a new online planning tool has been developed which helps businesses of all sizes think about the key issues that will affect them during the Games – See ‘In the News’ section for more information.
