Tag: COP9 criminal tax fraud investigation

Contractual Disclosure Facility
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Contractual Disclosure Facility | Code of Practice 9

Should you omit information or should the HMRC feel that you may not have disclosed all your actions or knowledge as it pertains to these actions, you become subject to a civil or criminal investigation, depending entirely on the circumstance and details of the situation at hand.

COP9 Investigations
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COP9 HMRC Tax Investigation – An Accountants Approach

For COP9 Investigations, we always advise taxpayer to hire an experienced accountant or get help when submitting CFD. HMRC procedures can be confusing for the inexperienced and will require expert help. A long drawn investigation can lead to higher penalties, which makes hiring an professional cost effective.

HMRC Tax Disclosure Schemes Digital Disclosure Service
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HMRC Tax Disclosure Schemes | How to Make most of them

The Digital Disclosure Service (DDS) is a service by HMRC that assists companies and individuals in bringing their tax affairs up to date in a straightforward way. If you owe tax, you will need to declare it straight away, after which you will be given time to explain exactly what it is that you owe, how did you arrived at this tax amount and pay the money.

HMRC VAT Inspections

HMRC VAT Inspections of Restaurants and Takeaways

Be aware that HMRC may visit anonymously prior to the visit and make purchases that they will later ask you to match up with the receipts from your cash machine. A technique sometimes used is to pay half cash and half credit card, they will later check that both cash and card have been recorded.

Contractors EBT Tax Avoidance
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HMRC hunt for contractors EBT tax avoidance : Accountants Approach

For years the Government and HMRC have tried to curtail the actions and processes of EBTs only to create more complex legislation. In recent years attempts have been made to clarify and simplify procedures for the operation of EBTs culminating in elements of the 2016 Finance Bill.

Capital Gains Tax Avoidance

Capital Gains Tax Avoidance | Pitfalls

For shares that are located in PEP or an ISA, no Capital Gains Tax has to be paid out when they are sold or otherwise disposed of. Earnings that originate from gambling wins such as those from the lottery or from pools are free of Capital Gains Tax along with any profit from premium bonds or UK based government gilts.

tax avoidance
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Contractors | Loan Schemes and Tax Avoidance

These loan schemes come in a number of shapes and sizes. Currency arbitrage is one of the riskier methods. The idea behind it is that through signing up with an off-shore company, and receiving exotic foreign currencies in exchange for loans, that your earnings can be turned into non-taxable foreign exchange gains.

HMRC Campaigns Tax Evasion Rental Income
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HMRC Campaign for Tax Evasion of Rental Income

According to HMRC, the point of the campaign is ‘to help those that are not paying the correct amount to put that right’. They describe this campaign as ‘an opportunity for landlords who owe tax through letting out residential property, in the UK or abroad, to get up to date with their tax affairs in a simple, straightforward way and take advantage of the best possible terms.’

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