Wanting to sell your business? Beware of the taxman!

You have worked all your life to build up a successful business and now its time to cash it all in and sell up.  You have found a buyer and they are willing to pay the full asking price, no quibbles.  So why should you beware of the taxman?  It’s not as if you haveContinue reading “Wanting to sell your business? Beware of the taxman!”

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””

Offshore does not mean off HMRC’s radar

The fact a taxpayer has an offshore bank account or an offshore trust or offshore anything can raise or add to the concerns of HMRC.  Not so much as “what is there to hide” but more the fact that its not so transparent compared to being on the mainland UK. So what?

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?”