Tax Enquiry Advice Partnership

When the HMRC Department detects people in the hidden
economy, it can impose a penalty of up to 100% of the tax
owed. In most cases it either imposes a much lower
penalty or waives the penalty. To encourage people to
declare tax owed, HMRC has run advertising campaigns,
which have led to enquiry registrations and should result
in additional tax of many millions.

In 2007, the Department introduced the Offshore
Disclosure arrangements to encourage people holding
overseas bank accounts to voluntarily disclose
and pay any tax owed. This followed landmark rulings
against several major financial institutions which required
them to disclose to the Department details of around
400,000 bank accounts. Some 45,000 people came
forward bringing in around £400 million at a
cost of £6 million, a return of £67 for every £1 spent.

2009 New Disclosure Opportunity  -10% again for new
customers and 20% for some that ignored the 2007
first one.  

Then there is the Lichtestein Disclosure Facility - LDF
- with really generous terms.

So if you are in any of the red highlighted areas feel free
to contact us before the dreaded letter drops through your
door.

With our experience we can help anyone at any time but
inevitably it is much better if you come to us before too
much damage has been done with the enquiry. We can
keep HMRC within the bounds of their statutory authority
where needed protecting your interests.

We are also available for second opinions or assisting any
tax advisers and/or accountants who feel they need that
little bit of extra assistance. Any advice needed on the
forthcoming Small Accountants Disclosure Opportunity -
Oops do they really mean SADO - can be discussed.

There is no fear of our partnership stealing any client's as
we mainly specialise in tax enquiry work or specific tax
planning requests

Looking forward to hearing from you for an initial chat
(free for the fact finding discussion) and feel free to use
the Feedback Form to outline your problem as you see it.
Are you or one of your clients in one of the High Risk
areas
- see the red highlighted groups below and right -

If so contact us for specialist Tax Investigation and
Enquiry advice and expertise.

HM Revenue & Customs (the Department) spent £41 million
in 2006–07 on encouraging people and businesses into the
formal economy, and detecting and imposing sanctions on
those operating in the hidden economy. The
Department achieved a return/cost ratio of 4.5:1 which
should increase as recent initiatives achieve their full effect.

Areas of risk include
  • self-employed people, such as builders and      
    decorators, who often receive cash payments;

  • individuals who trade on the internet especially
    ebay etc

  • buy-to-let landlords with or without capital gains

  • IR35 employee status

  • Corner shops and cash traders

  • Doctors and Other GMC Medical Professionals

  • People with Offshore bank accounts from 2001
    onwards

  • People who maintain a turnover marginally
    below the VAT exemption limit (£68K a year from
    May 2009)

  • Small accountants will be next so watch out for
    the Inspector's about - A plan is afoot to
    encourage you to make disclosures

To increase detections, the HMRC Department has
(a) been making more use of data matching techniques
(b) set up the Tax Evasion hotline in 2005 for members of
the public to report suspicions of tax evasion. The hotline
received over 120,000 calls in 2006–07 but progress in
investigating cases has been slower than the Department
expected.
Are You At Risk of Getting Caught?
We can help either fully up front managing the enquiry or in the background helping
Contact us Now
BT/Fax                    01779 812480
Mobiles :                07751720507 or
24/7                       07899913414   

Use the feedback form to Contact Us
Risks - who needs them?