Why the client needed our help
Our client, a private individual, had been contacted by HMRC for a compliance review to ensure that he was paying the right amount of tax at the right time. Having severely understated his income over a number of years, he panicked. He then sought our assistance.
How we helped
We applied for a contracted disclosure settlement under Code of Practice 9 (COP9), whereby our client received immunity against prosecution in exchange for full disclosure.
We then prepared a lengthy disclosure report which included bank analysis and tax computations.
The outcome
HMRC accepted our disclosure without any queries and we settled the tax and penalties in the sum of £790k.
We also referred the client to one of our insolvency practitioner contacts who negotiated an individual voluntary arrangement (IVA) for him for a one-off settlement payment of £200k to HMRC.
Needless to say, our client was delighted with these results – the HMRC officer even commended us on the “spectacular job” we had done for our client.
At Francis Wilks & Jones we have considerable experience in handling compliance reviews and other forms of tax investigation and disclosure. Contact our specialist team today for advice.
FWJ did precisely what it set out to do. I am extremely grateful for its assistance.
A client who had received a Request for Security from HMRC for a sum that would have caused their company severe financial difficulties. We helped them to have the entire bill withdrawn
