HMRC sends letters to 1,500 scheme users
The BBC reported last week that HMRC's "Specialist Investigations Unit" was sending out 1,500 pre-emptive letters to users of a particular tax scheme suggesting it might be in their best interests to stop using it, and warning that it now viewed them as high-risk.
"You are in the small minority of people who have made the deliberate choice to avoid tax. We focus our resources on this small minority. The choice that you have made changes the way we view your tax affairs," the letter warned, adding that as well as carrying out a full investigation into the scheme, it would open an enquiry into the person's tax affairs."
Have any members seen one of these, or know any of the background to the scheme?
Are you worried by the pre-emptive nature of the attack and that it may have opened a worrying new door in the dash for cash, or is it quite a smart move to discourage aggressive tax schemes. What would you advise your clients to do, and how would you deal with the SIU? (Speaking of which, has anyone heard of this outfit before?).
We'll be following up with a news piece, so any information from the community will be most helpul - thanks.
- Companies Made Simple - I guess they don't want our business any more 274 4
- P11D & tax return 243 10
- Only pref shares. Does it matter 110 4
- Laptop help needed I bought the wrong operating system 504 10
- Identify cost savings 80 1
- Freelance/Employee 904 22
- VAT on children's clothing 137 4
- when is a bad debt a bad debt 218 6
- Why do I get the feeling ... 381 5
- Accounting Web - What is happening? 2,417 50
- Concurrent users 430 7
- SEIS: is it ok for co to spend money before the shares are issued? 78 1
- Member meet up 1 October in London 225 6
- Just another average day trying to deal with HMRC 1,566 18
- ACCA Special Business Resolutions... 468 8
- Fees 726 7
- Creation of leases out of freehold 166 2
- Selling Business 323 2
- Capital Goods Scheme 143 6
- HMRC incompetency 389 2
- Chart of account segments; Balance sheet vs P&L 799
- Any knowledge of salesorder.com 437
- Could and would anyone here carry out a hot file review of some non statutory audit work please? 388
- Electric Car 327
- S222 Charge 264
- Corporation tax penalties and fines on the CT600 236
- AIA 209
- IP trans to holding company 209
- Best way to convert Sage data to VT Transaction+ 198
- Car used both in a partnership and sole trader business - how to claim capital allowances? 165