Tax Enquiry Advice Partnership
When the HMRC Department detects people in the hidden
economy, it can impose a penalty of up to 100% of the tax
owed. In most cases it either imposes a much lower
penalty or waives the penalty. To encourage people to
declare tax owed, HMRC has run advertising campaigns,
which have led to enquiry registrations and should result
in additional tax of many millions.
In 2007, the Department introduced the Offshore
Disclosure arrangements to encourage people holding
overseas bank accounts to voluntarily disclose
and pay any tax owed. This followed landmark rulings
against several major financial institutions which required
them to disclose to the Department details of around
400,000 bank accounts. Some 45,000 people came
forward bringing in around £400 million at a
cost of £6 million, a return of £67 for every £1 spent.
2009 New Disclosure Opportunity -10% again for new
customers and 20% for some that ignored the 2007
first one. Of course if you ignored both you could be
in real trouble and need the best help going
Then there is the Lichtestein Disclosure Facility - LDF
- with really generous terms.
So if you are in any of the red highlighted areas feel free
to contact us before the dreaded letter drops through your
door - or even worse they turn up uninvited.
With our experience we can help anyone at any time but
inevitably it is much better if you come to us before too
much damage has been done with the enquiry. We can
keep HMRC within the bounds of their statutory authority
where needed protecting your interests.
We are also available for second opinions or assisting any
tax advisers and/or accountants who feel they need that
little bit of extra assistance. Any advice needed on the
forthcoming Small Accountants Disclosure Opportunity -
Oops do they really mean SADO - can be discussed.
There is no fear of our partnership stealing any client's as
we mainly specialise in tax enquiry work or specific tax
Looking forward to hearing from you for an initial chat
(free for the fact finding discussion) and feel free to use
the Feedback Form to outline your problem as you see it.
|Are you or one of your clients in one of the High Risk
- see the red highlighted groups below and right -
If so contact us for specialist Tax Investigation and
Enquiry advice and expertise.
HM Revenue & Customs (the Department) spent £41 million
in 2006–07 on encouraging people and businesses into the
formal economy, and detecting and imposing sanctions on
those operating in the hidden economy. The
Department achieved a return/cost ratio of 4.5:1 which
should increase as recent initiatives achieve their full effect.
Areas of risk include
To increase detections, the HMRC Department has
(a) been making more use of data matching techniques and
(b) set up the Tax Evasion hotline in 2005 for members of
the public to report suspicions of tax evasion.
(c) increased the facilities available to its detection teams
(d) just created another 30 specialist teams of investigators.
|Are You At Risk of Getting Caught?
We can help either fully up front managing the enquiry or in the background helping
Contact us Now
|Risks - who needs them?