The HMRC has revealed that it is targeting the grocery and retail trade.

The HMRC has revealed that it is targeting the grocery and retail trade.

HM Revenue & Customs (HMRC) hopes to recover more than £7 million with the launch of a new taskforce that will target tax dodgers from the UK's grocery and retail trade.

Covering south Wales, north Wales, the north west and the south west, the taskforce will visit specific traders from each region to examine their records after recent suspicious activity.

The HMRC is keen to stress that traders from the grocery and retail sectors who pay the right amount of tax have nothing to fear from the investigation.

"We have made it clear that we will not tolerate tax evasion and we are determined to crack down on the minority who choose to break the rules," explained exchequer secretary David Gauke.

HMRC has set up 30 taskforces since May 2011, who are on target to collect more than £50 million by the end of 2012, with the aim of raising the government an additional £7 billion every year.