HMRC views some tax avoidance schemes as a “misrepresentation of the true nature of events”

According to HMRC, the fine line between tax avoidance and tax evasion has been crossed and deliberately so.  HMRC’s unit known as Offshore Corporate and Wealthy (OCW) was established in the wake of the ‘Panama Papers’ scandal in 2016 to investigate serious non-compliance by businesses and the wealthiest taxpayers.  Today, the OCW is revisiting aContinue reading “HMRC views some tax avoidance schemes as a “misrepresentation of the true nature of events””

By failing to prepare, you are preparing to fail

Some of you may recognise this as a quote from Benjamin Franklin.  In my world it is a very true statement and I take time to explain its importance to others particularly in relation to failing to prepare for meetings with HMRC. Imagine the scenario of  a taxpayer being blasé and ignoring my advice.  They mayContinue reading “By failing to prepare, you are preparing to fail”

Don’t underestimate the ingenuity of HMRC

Two taxpayers in business together almost came a cropper with HMRC.  HMRC raised a valid enquiry into their personal tax affairs issuing Code of Practice 9 (Cases of  suspected serious fraud).  All perfectly normal – in my world anyway!  My clients had ignored my warning – don’t underestimate the ingenuity of HMRC

Signs that your tax investigation is about to get worse

Nobody looks forward to a tax investigation.  As soon as they start, you want to know when they will finish.  How much will it cost? Sadly I do not possess a magic wand.  But I do know some of the tell tale signs that your tax investigation is about to get worse.  These are someContinue reading “Signs that your tax investigation is about to get worse”

HMRC thoughts on tax evasion – is the answer 42 or 0?

No, I haven’t gone mad.  A client has spent a lot of time and energy recounting what he had done over the years.   But it didn’t add up – literally.  It didn’t explain why HMRC was accusing him of tax evasion.  Nor did it explain why HMRC had issued him with Code of Practice 9Continue reading “HMRC thoughts on tax evasion – is the answer 42 or 0?”

The “too difficult” category

Most people have consciously moved a particular task into the “too difficult” category.  It is worrying how many times a “too difficult” task results in some form of UK tax irregularity.  Examples can ultimately include the lack of an up to date Tax Return for an individual, partnership, limited liability partnership or company.  But thatContinue reading “The “too difficult” category”