We have a duty to pay the right amount of Tax, this is indisputable.
The fog starts to descend and the way forward is not as bright and sunny as we would expect. Interpretation of "Tax Law" is an element of inconsistency. Ensuring Positive Interpretation is the key. HMRC can interpret the law in their favour. Consequently a clear and professional understanding of the Taxes Management Acts is essential. Our clients can expect a first-class understanding of the law and codes of practices so the pitfalls of interpretation can be avoided. Civil Fraud Procedure. The procedure refers to the way in which more serious fraud cases are dealt with under the HMRC code of practice 9. This states that HMRC may accept a monetary settlement instead of initiating criminal proceedings as long as they receive a full disclosure of all the realities. It is important to recognize that undeclared income could, in part, represent the proceeds of crime, as that undeclared sum would constitute the ‘benefit’. Our service will ensure that application to the statute will be done properly and professionally, leaving you without the anxiety and stress, so that your business can keep running smoothly
Is this 'Criminal Property'?
HMRC v IK  EWCA Crim 491, 8/3/07 the question for the Court was whether the proceeds of cheating the revenue could be 'criminal property'. In a nutshell a legitimate trader had earned legitimate money undertaking a legitimate business. The allegation was that not all the income was declared there by cheating the Revenue. The Crown prosecuted on money laundering offence but the trial Judge ruled that there was no 'criminal property' - the money did not come from crime. Following a prosecution appeal, the Court of Appeal found that the undeclared income could in part 'represent' the proceeds of crime, as that undeclared amount would be representative of the 'benefit'. Therefore applying the statute properly that undeclared income could at that point be criminal property.
Defending allegations is where our forensic accountants have the knowledge to look for the unusual. Interpretation is the key factor. Proving the facts, a fact will be "relevant" if it enables a conclusion to be reached. The "burden of proof" places the responsibility for establishing a particular fact on its proponent. The requirement of proof means that the facts must be established to a level of satisfaction, but this does not mean "absolute certainty".
Tax & Law (are you at risk of Prosecution) HMRC selects their cases carefully and usually prosecutes where there is a high chance of a conviction. HRMC may regard the scenarios below as sufficient reason.
- A Previous signed certificate of full disclosure is found to be false.
- A contrived company liquidation.
- Documents have been forged.
Swiss Bank Accounts & Offshore Assets.
"Remember it is not illegal to have a Swiss Bank Account."
Accusations of Tax Avoidance, Evasion, Money Laundering, proceeds of Crime on their own sound alarming but when linked to Swiss bank accounts these now sound dreadful and will have far reaching effects on you, your business, your family and friends and your Swiss bank accounts. Investigations are stressful, time consuming, lengthy, invasive and costly. Allegations are often complex with Swiss bank accounts and can be investigated by many organizations including: HM Revenue and Customs (HMRC), SFO, DWP, OFT, DTI, NCA and (FCA).
Getting the right advice with Swiss bank accounts & other offshore accounts. Planning a course of action understanding the outcome from the outset is critical. Don't be panicked or frightened by HMRC - talk to us FIRST. Your first move as Swiss bank account holders will have far reaching consequences-talk to us in confidence whilst you still have control of the situation. Allegations of Swiss bank accounts and Money Laundering are infamous in their depth of scrutiny and detail, so it is vital that the right decisions are made from the outset.
We will advise you on your options with Swiss bank accounts and help you through all the complexities. We can provide expert, up-to-date advice on Swiss bank accounts so that any obstacles and concerns can be overcome and resolved. Our team is highly experienced in tackling problems with Swiss bank accounts from the beginning there by diffusing potentially damaging situations, leaving you, your business and Swiss bank accounts to operate effectively and with confidence.
HMRC issue hundreds of letters to well-off UK taxpayers;
These were thought to have Swiss Bank accounts, warning them to disclose their assets. "Remember it is not illegal to hold Assets ( Property or have Bank accounts) out of the county be it in Switzerland or the Channel Islands. Nor for that matter to have a French villa and Yacht" Its how you account for these that is the key After all where do 8 million Swiss bank "Ireland" its how you treat the income and account for the asset.
You had your reasons! That could be as simple as ex-spouses who were not quite "ex" yet. Let's make sure that others don't misinterpret your actions, don't be caught out by someone else's greed or envy.
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