11 Oct 2018
HMRC has used targeted campaigns to recover underpaid taxes and penalties from specific sectors and industries where significant underpayment of tax has been identified. The use of these campaigns is part of the government’s continued moves to tackle tax evasion, avoidance and fraud.
Current campaigns include the Card Transaction Programme, a disclosure opportunity for businesses that accept card payments and have not paid the right amount of tax due and the Let Property Campaign for landlords who have undeclared income from residential property lettings in the UK or abroad.
HMRC also publishes separate guidance for individuals and companies who need to make a voluntary disclosure but who aren't eligible for a specific HMRC Campaign. The service is known as the Digital Disclosure Service (DDS).
There are three main stages to making a disclosure, notifying HMRC that you wish to make a disclosure, preparing an actual disclosure (within 90 days from the date HMRC acknowledged your notification) and making a formal offer together with payment.
Taxpayers that come forward voluntarily will usually benefit from better terms and lower penalties for making a disclosure. The actual rate of the penalties will vary depending on the specific circumstances. There are higher penalties for offshore liabilities. For undisclosed liabilities, the penalties could be up to 100% of the unpaid liabilities, or up to 200% for offshore related income.
Vada Studios is a very successful music recording facility. The business had outgrown their existing premises, and had a vision to create one of the top residential recording studios in the UK.
A highly successful restaurant, butcher and retail business.
GJA have been the retained accountants for this property investment and development group for over 20 years. Imminently due to dissolve companies.
Proco approached us with an idea of becoming a distributor of a high-end product in the UK, supplying vinyl nationally.
In 2008 Tom Floate left his employer to set up his own business providing website services. Initially forming a partnership with his wife Rachel, they began trading IO Studios from their home office.
Barry the Butcher is a very successful wholesale butchery and retail business.
Chris works with a diverse profile of owner managed businesses to assist them to grow and retain wealth. Although Chris works with clients from a wide range of sectors, he has particular expertise in property, catering, consultancy and professional services.
Managing Director ACMA
Alex has worked for Grenfell James since 2002 and became a director in 2013. Overseeing our internal operations, he manages the flow of work and ensures we hit our strict deadlines. Alex also manages a portfolio of clients, with expertise in manufacturing and service businesses.
Operational Director MAAT
David has worked for Grenfell James since 2006. He heads up our tax team and is highly experienced with expertise in different industries and sectors.
Tax Director ACCA
Hannah qualified in 2016, having worked for the company since 2009. She acts as a client manager for a range of businesses, with expert knowledge of the equestrian and rural sector. Hannah also manages our payroll team.
Client Manager ACCA
Andrew Knight. The Howard Arms Ilmington
Proco Coatings & Laminates
Roy Ferguson. The Perfect Cosmetics Company.
NPD Design Consultants Ltd
Regent Square Estates
Mr J McCarthy
Paul Stanley. A S Contracts Ltd.
Dean. Wootton IT
Mckechnies independent tea and coffee bar.
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