COP 9 TAX INVESTIGATION
Contractual Disclosure CDF
Tax Payment Planning
HMRC Negotiation
HMRC Penalties
Your business can be much more
profitable!
Specialist COP9 Accountants
WHEN HMRC have evidence
When the HMRC suspects an individual of tax fraud they begin an investigation using the Code of Practice 9 (COP9) procedure to follow out and advance their enquiries. The COP9 is offered to those where HMRC have reason to believe that a tax evasion or fraud is committed. The COP9 is only given to an individual in certain cases where, up to that date, no criminal proceedings have been brought against taxpayer. At the point when the COP9 is issued, HMRC have evidence of tax evasion and its not speculative. It is highly advisable to use a professional tax accountant to represent the case. During all COP9 investigations the normal payment of tax is continued and it is advised that any arrears that are present with a person’s tax are brought up to date as not to incur penalties on the interest that is due. Call our specialist tax accountants to discuss your tax investigation.
FAQ
We Are Here To Help You With Any Questions You May Have
Normal accounting is focused on reporting profit or loss of the business and will be governed by GAAP. But Tax accounting is majorly focused on the impact of transactions on tax liability.
Every business including sole traders, partnerships, limited companies and large business will plan for their taxes and make amendments to financial statements and include any past or future tax liabilities through tax accounting entries.
Tax accounting enables and empowers business to comply with tax law and prepare for any future tax liability. Tax Accounting is part of accounting which will be governed by the laws of taxes in that jurisdiction.
Apart from tax compliance, tax accounting will help you generate cash flow in real terms. Any future tax liability will be added to cash flow of business in order to save money for future tax payments.
HMRC have published guidance to record income and expenditure on cash basis or accrual basis. They will accept any tax planning which is part of final accounts and is not tax avoidance.
No tax accountant is not more expensive then a normal accountant. We have specialist knowledge and experience to minimise your tax bills.
There is not much difference in the costs. Most of tax accountants will charge for advice and tax planning. Whereas accounting will be the same for every business. The difference is to include tax planning in accounts.
Your accountant may have included some normal tax provisions. If not you may be able to make adjustments in your current financial year. If you are loosing any tax reliefs, you may need to amend accounts and resubmit to HMRC and companies house.
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Absolutely Free Advice
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You will get instant reply to your emails and we will follow up a call to your request.
Understanding Needs
Our tax accountants understand your business and have industry knowledge
Do Not Miss Deadlines
We will take care of everything and you will not miss your filing deadlines
Industry Award Winning Software
We use award winning industry software and benefit our clients
What our clients say
Tax on Employment Incentive and Award Schemes
Financial rewards will include bonuses, commission, employee stock options and paid time off. Non-financial incentives will include formal recognition/awards, vouchers, extra unpaid leave, gifts, company cars etc
Private Company Limited By Shares
If you are looking to start business and your business plan forecasts turnover more than £50,000 per annum, then its better to start with Company Limited By Shares
How to make a Complaint to HMRC
Contact HM Revenue and Customs (HMRC) as soon as possible to complain about their service, for example if there have been mistakes or unreasonable delays.
Lettings Relief – benefit from it while you can
If a disposal of a property currently qualifying for lettings relief is on the cards, it may be beneficial to sell before 6 April 2020 rather than afterwards.
SDLT and First Time Buyers
First-time buyers are able to benefit from Stamp Duty Land Tax (SDLT) relief when they buy their first home – but only if the property that they are buying does not cost more than £500,000.
Code of Practice 9 Investigations: Don’t Fall into The Pit of The Taxman
Although tax officials have extended powers to bring criminal proceedings, their initial enquiry is not with a view to prosecution. Their ultimate goal is to recover unpaid taxes.