Tax fraudster jailed for VAT repayments
David Handley, aged 43, from Leicester has been jailed for four years for VAT repayment fraud. Mr. Handley was the mastermind behind a gang of 18 people using forged identities to set up businesses and claim more than three hundred fraudulent VAT refunds. In his supervision, Mr. Handley had set up almost 46 illegitimate businesses purely to claim tax from HMRC. Read more…
Code of Practice 9 tax investigation closed
This client came to us from London after he was referred to our firm by his accountants. This Code of Practice 9 ( COP 9 ) tax investigation case was being dealt with by a forensic accountant in Wales who decided to close his business and do a runner after taking a large fee upfront. The case involved undisclosed income from various sources over 13 years and involved complex transactions. Our team of tax experts took on the case and after thoroughly investigating the facts and meeting with HMRC officers, were able to reach a settlement that was acceptable to our client and HMRC. The case was closed and our client thanked us for our efforts to bring his life back to normal.
Our analysis: Code of practice 8 and code of practice 9 tax investigation cases are very complex. With Code of Practice 9 cases, there is immunity for making a full disclosure. If however, the tax payer does not make a full disclosure, there is a risk of prosecution by HMRC. There have been numerous cases of tax payer being sentenced to prison for not making a full disclosure during the Code of Practice 9 enquiry. Our team of tax specialists have extensive experience in dealing with Code of Practice 8 and Code of Practice 9 investigations and negotiating best possible settlements for the clients.
Worldwide Disclosure Facility – Deadline for disclosure 30 September 2018
The Worldwide Disclosure Facility was introduced by HMRC in September 2016 to allow individuals with offshore income to make a declaration without having to suffer heavy penalties or prosecution. This facility has been used by a large number of people in and outside the UK and settlements reached with HMRC. The Worldwide Disclosure Facility will come to end on 30 September 2018 after which HMRC’s new rules under Requirement to Correct will be applicable. The new rules will impose tougher penalties and sanctions on those who have failed to make a declaration by 30 September 2018.
Any foreign nationals living in the UK also need to make a disclosure if they have any offshore income even if that is being kept in the foreign country and not remitted to the UK.
As there is a national campaign going currently in relation to the end of the Worldwide Disclosure Facility, we have been receiving a large number of enquiries from individuals willing to make a last minute disclosure. The initial intention to disclose is fairly simple and can be done online. HMRC will then allow 90 days for the full disclosure and for the tax to be paid. Please contact us on 0207 998 1834 if you would like to discuss making a disclosure.