It has been speculated for some time that the Inland Revenue would offer a new tax amnesty. This was confirmed in the 2009 budget statement where the latest tax amnesty has been titled the New Disclosure Opportunity.
The speculation about the New Disclosure Opportunity (tax amnesty) is that it will be similar to the last tax amnesty but with higher penalties.
It is believed that the penalty will be higher in this tax amnesty as it is seen to be unfair by the Inland Revenue investigators to offer the same terms to those who came forward when asked the first time. Those who take part in the latest tax amnesty are probably seen as reluctant participants by the Inland Revenue.
One of the reasons that the last tax amnesty was a failure in the eyes of the tax investigation professionals was the lack of publicity given by the Inland Revenue, to the fact that there was a tax amnesty.
Failure to use the information that the Inland Revenue obtained from the banks prior to the last tax amnesty is also a criticism levelled at the tax man.
As the budget also contained the proposals to both name and shame people caught committing tax fraud and to subject these same people to an increased level of tax scrutiny for five years after a tax investigation this suggests that the latest tax amnesty may be publicised as the last chance for people who have not paid their taxes to come forward.
Gilbert Tax specialise in helping people who have committed a tax fraud or tax evasion and who need help disclosing this to the Inland Revenue in such a way as to minimise their liabilities as far as possible.
Gilbert Tax helped hundreds of people through the perils and pitfalls of the last tax amnesty. For further information about how we can help you in the current tax amnesty (new disclosure opportunity) call us for a confidential free discussion on 01756 700875.
Gilbert Tax understands that people sometimes make mistakes in their dealings with HMRC and that HMRC make mistakes in dealing with taxpayers. Many people do not know how to deal with HMRC or who to turn to for help resolve the tax dispute.
Gilbert Tax is a firm of tax advisors who specialise in resolving people's problems with HMRC. We have extensive expertise in dealing with all forms of tax investigations and tax disputes as well as with taking matters to the Tax Tribunal where agreement cannot be reached.
Gilbert Tax deal both directly with the individual who is under enquiry and also work with many firms of accountants supporting them in dealing with HMRC disputes and advising them on how to handle HRMC to get the best result.
The fact is that proper management of HMRC is the best way of reducing the tax, interest and penalty as well as the time taken in resolving any tax dispute.
Gilbert Tax are none judgemental and rigorously defend your position within the scope and parameter of the law. We take control and manage the process to minimise the interruptions that any form of tax investigation causes to an individual's life and business.