HMRC are getting into the habit of tackling specific trades and the next
ones are :-
-Credit Card Sales Campaign - if you accept credit cards for sales income and
you have evaded any taxes you can use the Credit Card Sales Campaign to make a
full disclosure. See the guidance here - Credit Card Sales Campaign - but
remember you only have 90 days to finalise everything and make payment. So you
would be recommended to enlist the services of somebody that knows how to get
you the best deal going and knows HMRC's secrets. Bill on 07751720507 can help
so call for a confidential and free initial short chat to see if we can work together.
Taxi Operators - watch out for the unannounced visits and the aftermath
- Adult Entertainment Clubs and online Escorts etc- HMRC threaten to strip you
bare (of your assets of course)
- Restaurants - SW Midlands - again watch out for the unannounced visits and the
The Fishing Industry (share & shellfish fishermen to skippers to boat
agents to fish processors and gangmasters) - started July 2013
- Dodgy accountants - see footnote below
but they also continue to tackle
- Scottish Motor Traders (since September 2012)
- Scottish Pubs and Clubs (since July 2012)
- Restaurants and since May 2011 Special Projects - Cash Trades
- Buy-to-Let Landlords -and now - Property Sales Campaign -even for
omitted housing benefits and don't forget those omitted capital gains when you sell
where lack of tax planning can cost you many £1,000s
- Offshore Bank accounts initiatives-
New Offshore Disclosure - "NDO" scheme was in the Autumn of 2009 - you
needed to register from 4 January 2010 and complete by 31 March 2010.(but
we can still help) but the last chance for Offshore Tax Evaders has now come in
the form of the Worldwide Disclosure Facility (see below)
There is also the
Worldwide Disclosure Facility - Last chance saloon for Offshore asset and
accounts holders before HMRC start getting unprecedented loads of data in relation
to people holding assets or accounts overseas. The Worldwide Disclosure
Facility doesn't give any preferential terms but is a reminder that HMRC will shortly
be using new information sources to track down and prosecute tax evaders holding
money or assets overseas (or even in Jersey or Isle of Man etc). Read about it and
then call Bill on 07751720507 if you need to chat .
Employee with a Second Income Campaign - listen to it on the following link
Second Income Campaign
Leichtenstein Disclosure Facility - "LDF" that has different terms but also
possible traps and fairly recent tightening of rules
Tutor & Coaching Income - All tutors & coaches - and anybody with a disclosure
to make - had to advise by 6 January 2012 (but we can still help)
Plumbers & Heating Services - was in August 2011(but we can still help)
The HEALTH PLAN "THP" - Medical professionals disclosure opportunity - was
in March 2010 and complete by 30 June 2010.(but we can still help)
If you missed any of these get reliable help - call Bill anytime on 07751 720507
- who can help even though you don't fit into one of the campaigns exactly
Swiss bank accounts & tax evasion - two prosecuted and released on bail
Also now coming Isle of Man, Jersey, Guernsey and other tax haven bank
accounts and investments
- keep up to date with the news on WAMS Tax Ltd and details will be posted as soon
as they are published - see re Plumbers & Heating Industry
- Company Investigations from an Employer Compliance visit or Compliance
Bill Stevenson has the experience to help you with any of the above and
more........ See some of his Testimonials from appreciative clients
Don't lose sleep deal with it before the tax man comes knocking - Bill
Stevenson is more than capable of handling anything that is wrong as you
will gather from reading the various pages.
(a) Going to get penalties?-
The penalty rules changed from 2009 so make sure you get expert help if you find
yourself on the wrong side of HMRC with back taxes, interest and penalties. The
correct facts and arguments could save you a packet and repay the specialists fees
many times over
If it looks like you are not going to meet the tax return filing deadline then failing all
else file a provisional tax return and pay "a wee bit more" than your estimated tax bill
that is due on 31st January 2016 (by the 27th January to ensure paid on or before
31st) and then later claim the excess back as a repayment. This way you will
escape surcharges (5% or 10% penalties in other words) that could be payable if
you were even one day late in paying your tax and you might even get a bit of
interest on your refund if you overpay too much.
Mind you if you miss the filing deadline you still get fined a non-returnable £100 so it
can pay to lodge a provisional return with your best estimate of the source (but
remember to tick the provisional box) if you are waiting on exact and final
information. OK no fee for that tip but has your own accountant advised you about
this sort of thing? AND next year start the job much earlier!!!!
Remember partnership returns need attention before Mid January to get them
resolved in time and there is no use blaming HMRC for not giving you the UTR in
time as you should have dealt with it in good time they will say
(b) Offshore Banking -
NEW DISCLOSURE OPPORTUNITY- "NDO" from 1st September 2009
If you had a Liechtenstein account , anstalt, trust etc. get terms that can be better
than the NDO but watch out for the uncertainties
Dave Hartnett , the then acting Chairman of HMRC was quoted as saying:
“Some people will go to jail — I have no doubt about that, for example where
they have lied to us during a previous investigation. We do not tolerate that at all.”
OK so you didn't take advantage of the Offshore Disclosure Facility and HMRC
haven't come a knocking yet. It is rumoured that
(i) HMRC are looking for the correct prosecution cases and
(ii) the last tax amnesty started on ended in June 2010
therefore anybody with a decent load offshore in the years up to 2005-06 or even
later to 2007-08 should really think hard before keeping their head in the sand.
You can still get a good deal and lower penalties (than you otherwise might) if you
are agreeable to let me manage your enquiry and go forward before you get caught.
You might even escape prosecution (if you were in the frame for it) and HMRC may
settle for money with my negotiating skills.
Tax enquiry advice given on advantages of going forward with an amnesty or
otherwise. Bill of WAMS Tax Ltd is here to help - ring 07751 720 507.
If you are a tax accountant or other adviser Bill Stevenson can provide you
with reliable support or second opinions - but early referrals are preferable
before problems arise.
(c) Goodwill & Incorporation of Company -
Once upon a time it was considered a nice wheeze for a practitioner to get a nice fat
fee in return for getting his client - a profitable trader - to incorporate his business
with the carrot of getting nearly £36K tax free from the new company's director's
loan account. Then into the bargain the advisers annual fees were higher for
administering the company books etc.
HMRC didn't do much about the £36K ploy so then the tax advisers got greedy and
more ingenious and started to exploit HMRC's seeming weakness.
However although it takes them a while it seems from recent enquiries that they may
be getting more on top of the game. See what HMRC say about your problem here
They liked it that much they brought in retrospective legislation!!!
If you are either
a tax adviser that has exploited the seeming loophole or
a client/taxpayer that followed your tax advisers advice and was totally
taken in you may need help.
WAMS Tax Ltd is here to help contact Bill today for a CONFIDENTIAL chat
(d) Fish and Chip Shops
HMRC are targeting Fish Fryers /Fish and Chip shops as they consider there is the
risk that owners have been understating their takings (and profits) and paying off
record wages from the undeclared takings as well. They also believe that there is
the risk of potato purchases (and the other goods) understated to conceal the
fraud. Oh yes and of course they believe that you intentionally destroyed the till tail
slips and pocketed the money or didn't ring up the factory workers or school kids
lunchtime cash. Watch out for the cold sale VAT traps as well. "The taxman's about
so watch out" and they're after your hard earned monies. Not everybody is able to
keep meticulous records so get help from the professionals. Watch out if that
smartly dressed man or eye catching woman seem to be looking all round your shop
and at your till - they could be undercover tax officers sizing you up for an
unannounced visit. You might also get an unannounced visit if you happen to be
using "sales reducing software" as HMRC know that this has been doing the rounds
for a number of years. If you have the "sales reducing software" you will know what I
am talking about and you really need professional advice to broker a settlement
BEFORE they come a knocking. You know why using that software shows that you
are under-recording your sales deliberately and if you are lucky enough not to be
prosecuted you will get a heftier fine if they visit and catch you before you seek to
make a voluntary disclosure.
WAMS Tax Ltd is here to help if you get such a visit as it needs careful handling.
See the latest Fry Online
(e) Employer Compliance Visits -
If you recently read an article possibly suggesting that Employer Compliance staff
were not visiting to detect fraud and that they would believe whatever you say as
regards there being no particular benefits when they go through their checklists
then beware. Do not use this tactic to side step answering a question in a way you
know is wrong as it can lead to you being accused of lying and potentially higher
penalties (and even being referred to the Serious Criminal Investigation section).
You might of course get lucky and be seen by a CIF Team
Phone Bill on 07751720507
DODGY ACCOUNTANTS - Bill said it was coming!!!!
WAMS Quote -"HMRC is to be given additional powers targeted at dishonest
conduct by tax agents". It happened
Legislation came into force on 1 April 2013 to align procedures across all taxes
administered by the Revenue except customs duty and tax credits. The new rules
will allow the department to:
•investigate dishonest conduct by tax agents;
•charge civil penalties of up to £50,000 where there has been dishonest conduct;
•publish the details of agents who are penalised.
Safeguards will include tribunal approval for information requests and appeal rights.
Bill has conducted investigations and made reports in relation to accountants
performance to satisfy where possible HMRC that their concerns were unfounded.
If you need assistance contact Bill on 07751720507 at any time for a
confidential chat - the first short chat is free and confidential......
This part of the site will be updated from time to time for matters of current interest and are merely from the
views of Bill Stevenson. No liability can or will be accepted for any actions that you decide to take (or refrain
from taking) as a result of this without taking up the specialist one to one personal advice that is available
from WAMS Tax Ltd
var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www.");
document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js'
var pageTracker = _gat._getTracker("UA-474352-1");
|Ex-IR Senior Tax
and Enquiry Specialist and
Offshore Banking etc
|Bill has the expertise to advise on all cases
from the sole trader through to the multi
£Million companies as he spent 41+ years
successfully investigating them for HMRC.
No problem is too small (if it is causing you
stress) nor is any enquiry too large or
Get solid experience & secrets to help you
especially if you have complex offshore
structures - Panama and Bahamas (just like
David Cameron's family) - all good stuff
The comments on this site are personal views and solely those of the author who retains the copyright. Each
enquiry has its own dangers and opportunities that require full and detailed considerations and advice. No
responsibility can be taken for any actions that the reader decides to take (or not take) after reading the text and
articles unless you engage with the company and Bill Stevenson on a proper fee paying client/tax adviser basis.
The personal views of Bill set out on this page do not constitute tax advice and are presented for enjoyment only
by the reader
WAMS Tax Ltd - Bill Stevenson - 07751 720 507