The following Owner-Managed Businesses guidance note by Tolley in association with Guy Smith of inTAX Ltd provides comprehensive and up to date tax information covering:
HMRC’s regime for handling serious fraud cases is called the Contractual Disclosure Facility (CDF). Code of Practice 9 (COP9) governs how HMRC investigates suspected fraud and sets out the rules and conditions of the CDF policy. Under CDF, HMRC no longer guarantees not to prosecute, as it did previously, except where the person involved enters and fully complies with the terms on offer as part of the CDF.
The CDF was changed with effect from 30 June 2014 to remove the option of denying the fraud in response to the initial letter from the HMRC, leaving the taxpayer with following two options:
The references to ‘fraud’ have also been removed from the ‘admission statement’ from that date, and instead, the taxpayer must admit to ‘deliberate’ behaviour. It is not entirely clear what HMRC means by an admission statement, but it is assumed to mean the ‘contract acceptance letter’ and the ‘outline disclosure form’.
COP9 was updated on 30 June 2014 to reflect the changes.
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