Fines and penalties-will HMRC deal?
A partnership under investigation has both a determined VAT liability and a soon to be determined, income tax liability.
The 'Revenue' part of HMRC have advised that they cannot consider (and therefore negotiate a settlement on) both together and that the client would have to 'negotiate' a settlement with both the VAT people and the 'tax' people.
The VAT liabilty on it's own would force both partners into bankruptcy- with HMRC getting next to nothing- unless it could be reduced by negotiation.
Has anyone managed to get a VAT liabilty reduced?
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