Indeed, while some people or businesses will fall foul of simply not paying the correct amount of tax, there are others who attempt to make a substantial amount of money by purposefully dodging tax altogether.
Take a story that has recently made the headlines; in September it was revealed that a tax investigation into a suspected £5.5 million VAT and money laundering fraud had led to the arrest of five people in Armagh, Merseyside and Birmingham.
With the tax investigation ongoing, details about this case were somewhat limited, but reports suggested it was connected with the exporting of cars from England to Ireland and improper taxes being paid for this business venture.
Sandra Smith, assistant director of fraud investigation service at HMRC, would only say: “HMRC takes tax fraud extremely seriously and anyone deliberately choosing to evade the taxes they owe should expect not only a heavy fine, but possibly a criminal prosecution as well.”
Forensic accounting services can play a critical role in tax investigations – these experts can help deal with the complexity of tax issues and also provide valuable assistance in dealing with HMRC. Frenkels Forensics is vastly experienced when it comes to helping with all manner of tax investigations, including investigations into tax evasions or tax fraud, PAYE & Benefits, civil investigation of fraud and VAT investigations.
Naturally, the specific services provided will depend on the type of investigation a defendant is subject to, as well as the stage of said investigation. Importantly, though, the forensic accountants at Frenkels Forensics have the skills and knowledge to help a defendant handle their case in the most appropriate way, including offering the right professional advice before entering into discussions with HMRC – without which matters can escalate.
For expert financial help with any tax issues contact Frenkels Forensics for an independent appraisal.
By Vitek Frenkel – find me via Google+.