HMRC have launched 16 criminal investigations as a result of recent tax disclosure initiatives . . .

The offshore disclosure facility (ODF) and new disclosure opportunity (NDO) produced £485 million from more than 50,000 voluntary disclosures, while the tax health plan (THP) raised £10 million as a result of 1,500 voluntary disclosures

Kevin Kinsella, head of KinsellaTax Investigations, said, “HMRC are obviously upping the rate of prosecutions as indicated by the opening of these criminal investigations. It shows they are stepping up the fight against tax evasion and non compliance. The high profile investigations into the likes of the medical and legal professions demonstrates that HMRC are prepared to take on any sector.”

Given the Revenue has only opened a few criminal investigations in the past including Harry Redknapp, Milan Mandaric and Peter Storrie, it does seem that the increase is quite large but of course they are now using specialist investigators that are specially trained and are prepared to go where no-one went before.

The undoubted new tax aggressive procedure adapted by HMRC against tax evasion will undoubtedly cause a great deal of problems to people who haven’t made the necessary disclosures that have been offered by way of the new disclosure opportunity and the offshore disclosure facility, and now the Liechtenstein Disclosure Facility which is available to a selected few.

So if you are withholding information about income, a voluntary disclosure will at least give some protection against criminal prosecution. The LDF is open until March 2015 but you must move now. KinsellaTax Investigations only deal with tax investigation work and are experienced in dealing with voluntary disclosures,LDF disclosures, Code of Practice 9, Code of Practice 8. Get in touch with somebody as soon as you feel you want to make a voluntary disclosure before you get a letter from HMRC advising you you are under investigation because then it is much more difficult to actually get reasonable terms for a settlement and there is also a high chance, given the new tax recovery by way of the new powers and structures available to HMRC.

Tax evaders include “chip shop owners, taxi drivers and landladies”, HM Revenue and Customs (HMRC) has said. It has been set targets by the government to harvest unpaid tax.

The original campaign aimed at evaders with offshore accounts was launched in 2007 and gathered £400m after 45,000 came forward.

Subsequent inquiries have brought in another £91m and 1,000 enquiries are continuing, the BBC has been told.

A second campaign was launched in September 2009. This garnered £85m from 5,500 disclosures. Follow-up inquiries yielded another £6m.

Ten criminal investigations are ongoing, although these will not necessarily lead to prosecutions.

New penalties were introduced in April which raised the maximum fine level for those with offshore accounts to 200% of unpaid tax, in addition to the repaying the tax owed.

The tax authority has also threatened to publish the names of people who deliberately evaded tax. This could have serious implications for those in medical professions who were uncovered as part of a campaign by HMRC targeting that sector.

Some £10m has been gathered from 1,500 disclosures during the campaign. Six criminal investigations have been launched.

Medical professionals who admitted unpaid tax before 30 June could pay past tax, plus interest, and a penalty of 10% of the unpaid tax.

More recently, HMRC has launched tax payment campaigns against plumbers and restaurant owners.

“We are confident that these and more cases will be taken forward in the future,” said Chris Harrison, HMRC criminal investigations deputy director.

“This is proof of HMRC’s determination to increase the number of prosecutions we take forward in all areas. We are committed to ensuring everyone pays what they owe so that the maximum is available to spend on public services used by everyone.”

If you haven’t paid your taxes and have money or assets hidden around the world, you NEED to declare it to HMRC.

A voluntary disclosure to HMRC gives way to lower penalties and if you declare it sooner rather than later then there will be less interest to pay to HMRC.

KinsellaTax are the ones to make your voluntary disclosure to HMRC for you.

To speak to one of our tax investigation experts today call 0800 471 4546.

Don’t wait any longer; get it sorted NOW before HMRC catch you.

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