Serious Fraud Investigations - New Code of Practice - Disclosure Report

Disclosure Report

The nature of the disclosure report and the areas it should cover are set out in the new version of the Code of Practice. These are:-

• • A brief history of the business

• • The nature of the irregularities and how they arose

• • The extent of the irregularities, the steps taken to verify the amounts, the supporting documentation and details of any assumptions made and

• • A detailed schedule of the irregularities for each period for each tax.

Since the creation of HMRC and the implementation of the new civil investigation procedures, a single report can now cover direct and indirect tax irregularities.

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