TESTIMONIALS
Naturally clients would not welcome publication of their tax difficulties and so the names have been changed to protect the not so innocent.
Albert – a business man with a long history of tax evasion was targeted for enquiry. In identifying his true income CoyleClarke noted that one of his bank accounts came to an abrupt end in 1990 with a balance of £190,000. It transpired that the manager at the time had “allocated” Albert's funds to a third party using Albert’s password. Without admitting any liability the bank paid up over £400,000 to compensate for the missing money and lost interest. Full costs were also paid.
Brian – had a series of business interests over the past 30 years but had never properly notified the Revenue about them. His "activity" included investments properties, over 2,000 share deals and several offshore bank accounts. It was anticipated that the settlement would be well over £2m. However, the case eventually settled at half that amount with a penalty at just 25%. Although the case ran over 2 years Brian was more than satisfied with the final outcome.
Edward – In a case involving a series of offshore bank accounts a voluntary disclosure was made to Special Civil Investigations. The case was registered under the new CIF procedures and a formal report was prepared. The arrears covered a 20 year period and following extensive negotiations with SCI a settlement was achieved with a penalty of just 4.4% of the evaded tax.
Cathy – had an interest in a number of businesses which she had not informed the Revenue about. The Revenue was seeking to prosecute her for the offences. A review of the specific Revenue charges meant that they were restricted to a limited period only where Cathy’s income was minimal. A forensic review of that period persuaded the Revenue to drop their interest in a prosecution and settle at just £1,500.
David – a tax commissioner who had an offshore bank account with over £500,000 in it that he had not declared to the Revenue. Although right in the field of review for Prosecution an effective disclosure to the right office at HM Revenue & Customs ensured that the case was dealt with on a civil basis only.
