Tax status crackdown on Olympic contractors

Grant Prior 14 years ago
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HM Revenue & Customs has launched a tax crackdown on contractors building venues for the 2012 Olympic Games.

Inspectors will focus on firms who are wrongly classifying construction workers as self-employed when they should be on the books.

Contractors trying to fiddle the Construction Industry Scheme (CIS) or paying less than the minimum wage will also be targeted.

Mike Eland, HMRC’s Director General of Enforcement and Compliance, said: “We aim to help contractors and employers understand their responsibilities and comply with their obligations but we will also catch and deal with those who deliberately break the law.

“This is only fair to those businesses who do play by the rules and want to compete on a level playing field.

”The Olympic and Paralympic Games represent a great opportunity for UK companies – but they must at the same time meet their tax and employment obligations.

”Only those who choose to break the rules, or deliberately evade the tax they should be paying, will be targeted. Honest businesses have absolutely nothing to worry about.

“But the message is clear – 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.”

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