|
Code of Practice 8 (COP8) Investigations – Fraud & Avoidance
HM Revenue & Customs (HMRC) believes that over 1.5 million individuals and some 300,000 businesses are not paying the correct amount of tax due to fraud, evasion and/or criminal attack. Criminal investigations are resource intensive, expensive and time consuming so HMRC's priority in recent years has been to tackle tax fraud (or non-compliance (including the hidden economy)) by way of civil investigations and various disclosure facilities and campaigns.
On this page:
Who undertakes COP8 investigations?
Code of Practice 8 (COP8) investigations are only undertaken by the Fraud and Avoidance section of the Specialist Investigations (SI) directorate of HMRC.
[Top]
Who can be placed under a COP8 investigation?
The tax affairs of individuals, partnerships, companies and trusts can all be investigated under COP8. That said, SI typically only becomes involved in a case where it suspects that significant amounts of tax are either at risk or might be (or have been) lost/unpaid.
[Top]
What is a COP8 investigation?
COP8 applies to all civil investigations undertaken by SI, Fraud and Avoidance where the Civil Investigation of Fraud procedures (Code of Practice 9) are not used. Whilst serious fraud might not be suspected, SI does believe that there may have been a serious loss of tax or other duties by a taxpayer either deliberately trying to pay less than the correct amount of tax or taking advantage of a scheme or device to reduce or eliminate a liability that might otherwise be due.
During the COP8 investigation, SI will often ask you for information and documents (e.g. business and private financial records) to assist its enquiry. This information can be used in any proceedings to determine your liability to tax or other duties, interest and penalties.
At the conclusion of a COP8 investigation, SI will typically seek to negotiate a monetary settlement to cover the tax and other duties, interest and penalties that SI believes is due.
[Top]
Can I be prosecuted under a COP8 investigation?
SI do not conduct COP8 investigations with a view to a criminal prosecution. However, SI will adopt a different approach if they suspect or find evidence of serious fraud at any time during their investigation. The case will then either continue to be investigated civilly under Code of Practice 9 or, if it is then being conducted with a view to prosecution, under the relevant criminal laws in the UK.
[Top]
What should I do if Specialist Investigations investigates me under COP8?
As you would expect from HMRC's elite investigations office, SI typically only becomes involved in a case where it suspects that significant amounts of tax are either at risk or might be (or have been) lost/unpaid. SI carefully reviews its cases for investigation. Its investigators and the seriousness of a SI investigation should not be under-estimated. You need expert, specialist help to best protect you and your business interests.
[Top]
How can OneE TDI help?
At the core of OneE TDI is a highly experienced team specialising in all areas of tax disputes and investigations work. We are former HMRC SI inspectors/investigators – so we know how SI thinks! We are constantly dealing with SI inspectors/investigators so we have up to date insights into current SI practice and policy.
We offer confidential, non-judgemental advice to best defend our clients and have a proven track record in successfully managing all contentious tax matters. We provide a comprehensive service to accountancy and legal practitioners and their clients. Our advice saves our clients time and money and helps reduce their potential exposure to tax, interest and penalties.
Putting it simply, we take control of and manage all parts of a SI investigation so that our clients can get on with their life and their business. What price peace of mind?
Please see the Testimonials kindly provided by our clients (or their accountants or lawyers), which confirm our levels of client service.
[Top]
How can I contact OneE TDI?
If you would like a free, no obligation discussion with us please contact either Gary Rowson or Mark Taylor on 0800 652 6156 or complete and submit the online form below:
Whilst we endeavour to provide informative and accurate information, the content on this site is for general information purposes only and should not be taken to constitute tax or legal advice which must always be tailored to individual circumstances. Please contact us if you would like to discuss matters.
[Top]
|
Specialist Investigations