Her Majesty’s Revenue and Customs (HMRC) have the power to bring both criminal and civil investigations into tax and VAT concerns. Tax investigations can result in severe punishments which include significant financial penalties and custodial sentences.
Over the last 12 months, UK Government has increased its efforts to combat unlawful tax avoidance and tax evasion. Recent government consultations have considered several new offences aimed at tackling tax evasion including a new corporate offence of failing to prevent tax evasion. The UK Government will also be hoping that the implementation of the Common Reporting Standard over the next few years will strengthen their armoury.
Tax investigations can be extremely complex, as well as intrusive and stressful for both individuals and businesses. HMRC can also be quite aggressive with their investigations and we recommend that you instruct expert assistance as soon as you become aware of any investigation into your tax affairs. We work closely with other departments in our firm and external experts (e.g. tax advisors and accountants) to ensure that our clients receive the best possible advice.