What is the Contractual Disclosure Facility and Code of Practice 9? The Code of Practice 9 is a code that is issued where the HMRC (HM Revenue Customs investigation) feel there has been incidents of tax fraud. Typically, this type of offence warrants a criminal investigation, however, the issuance of Code of Practice 9 allows […]
Umbrella companies can and do, get caught up in tax avoidance schemes, plots or plans which can have grave consequences for employees, and the organisation. Umbrella companies, by definition, are merely a form of employee management as there is no national standard or definition of umbrella company under Her Majesty’s Revenue and Customs (HMRC) governance. […]
COP9, otherwise known as Code of Practice 9 is a HMRC Investigation, which is opened when the HMRC suspect a big loss of VAT / Tax through fraudulent taxpayer behavior. If a COP9 investigation is opened, you would be issued with a CDF, also known as a Contractual Disclosure Facility offer. You are allowed up […]
Whether you’re a small business or large corporation, finding out there is a Code of Practice 9 investigation into your tax affairs can be frightening. While it sounds quite innocuous on the surface, what it means is that the HMRC suspect you have committed fraud with respect to your tax return and are going to investigate […]
The purpose of the Disclosure of Tax Avoidance Schemes is to alert Her Majesty’s Revenue and Customs (HMRC) of schemes with regard to individuals or corporations, who are avoiding taxes. Any party entering into a program and/or arrangement which offers the benefit of minimizing taxes is required to be disclosed. Hence, corporations or even individuals […]
Prior to the introduction of self-assessment tax returns, just 1% of all returns were audited; with the introduction of self-assessment, this number will now be around 10%. It is highly likely that the number will be far higher if the HMRC is given more financial aid. What this means to the taxpayer, including anyone who […]
