A Coventry firm has been penalized for failing to pay a significant tax bill, highlighting ongoing tax evasion issues.
Coventry: A local business, Metaverse Recruitment Limited, has found itself in hot water. They owe a whopping £380,000 in unpaid taxes and have been slapped with a hefty fine of £282,753 by HM Revenue and Customs (HMRC).
This company, which used to go by Propello Ata Ltd, was based at Sutherland House on Matlock Road. The tax issues date back to between April 2020 and April 2021, when they racked up £380,619 in unpaid taxes.
HMRC has been cracking down on firms that try to dodge their tax responsibilities. They’ve been investigating several companies and hitting them with fines for not paying up.
Interestingly, HMRC publicly names firms that deliberately avoid paying more than £25,000 in taxes. This is meant to serve as a warning to others and encourage those who owe money to come forward.
In addition to Metaverse, another business, Tai Kwok Wing, which used to operate on Sherlock Street in Birmingham, was also named. They owe £73,345 in taxes from 2010 to 2014 and have been ordered to pay back £37,358.
It seems like a lot of companies in Coventry, Birmingham, and the West Midlands are facing similar issues. Others like Tenstar Personnel Limited and Coey Limited have also been fined by HMRC for tax evasion.
For more updates on local news, don’t forget to sign up for our free daily newsletter!
