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?”

Remuneration Trusts, EBTs etc. – tax avoidance or tax evasion?

The tax avoidance market has changed quite prodigiously in more recent times.  Some of these schemes go back to the mid 1990’s and yet they may still be in dispute with HMRC.  All of these tax avoidance schemes set out to reward key employees with little (tax) cost often by way of loans. And thenContinue reading “Remuneration Trusts, EBTs etc. – tax avoidance or tax evasion?”

Do you have anything to disclose?

A simple question but if it is answered the wrong way, it can have a devastating effect.  “Do you have anything to disclose?” is a question that is regularly asked by HM Revenue & Customs (HMRC) at the outset of an investigation.  But it is worrying how many taxpayers fail to appreciate its significance orContinue reading “Do you have anything to disclose?”

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”