Tax Avoidance COP 8 Investigation Specialist
When HMRC suspects that not enough tax has been paid due to what is known as tax avoidance, they may launch an investigation under Code of Practice 8 (COP 8). HMRC Tax avoidance procedures generally fall under marketed tax avoidance schemes and stand-alone enquiries.
Marketed Tax Avoidance Schemes
Marketed schemes have been in the news quite a lot recently. The jist of the schemes is that a number of tax payers sign up for the same in order to avoid paying tax. They can be very complex in nature, frequently involving off shore entities, trusts, and cross border issues. HMRC will nominate a single Specialist Investigations Office to investigate the scheme and all the tax payers that have signed up for it.
We strongly advise these tax payers (and the company that marketed the scheme) that one centrally appointed tax avoidance specialist should be appointed to manage the investigation for them. We have a huge amount of expertise in tax avoidance issues, so give us a call for some free, friendly advice.
Stand Alone Tax Avoidance Enquiries
HMRC will launch a COP 8 Stand alone enquiry when it suspects that the revenue lost is at least £500,000 and the complexity of the case such that the local tax office do not have the resources to tackle it. Typically, the issues at stake can involve aspects tax residence or domicile (personal or corporate), complex structures including offshore entities, trusts, cross-border issues, or disputes as to a single point of tax law.
Tax Avoidance Investigations - How we can help
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