Tax News >> Accountancy firm hits back at HMRC claims
Added 07 December 2012
The accountants, who specialise in the accounts of freelancers in the media industry, have commenced legal proceedings against HMRC.
It is understood they have taken umbrage with the nature of the raid of their offices earlier this year when tax officials seized evidence for their investigations.
Subsequently, HMRC wrote to the majority of the firm’s 7,000 clients informing them that accounts filed by the accountancy firm “may not be correct”.
As a result of this, thousands of TV freelancers are now having their tax returns scrutinised.
However, the firm at the heart of the investigation have now reciprocated, informing their clients they have issued proceedings in the High Court in relation “to the search warrants that were executed and the seizure of material”.
HMRC had given any of the firm’s clients until 30th November to come forward voluntarily if they believed their tax returns may be incorrect though this deadline has now been extended to 28th February 2011.
Freelancers involved had been informed that their tax returns would be made available from 28th October but the accountancy firm has said there were “gaps” in material returned by HMRC making it impossible for some of their clients to fully access their records.
The firm have said that HMRC have stated they will not need to interview any of its executives until Spring 2011 and that no formal charges have been brought against the company.
If you are caught up in this mess, or think you will be, and want to speak to someone confidentially then ring KinsellaTax today on 0800 471 4546.
Although the firm in question is still practicing, it is wise to seek independent advice from a tax investigation specialist.
We will be happy to help you.
If your tax returns are incorrect or dishonest, you will be held responsible.
You will be liable for any unpaid tax, penalties of up to 100% and interest.
Once your tax file has been brought to the attention of HMRC, they could also open full investigations stretching back 20 years.
Don’t risk being caught out. If you have any doubts at all contact KinsellaTax immediately on 0800 471 4546, or click here to fill in a tax enquiry form.