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| Articles of Interest |
| WAMS Tax Ltd |
| MY AIM To keep you up to date & get you the best deal that is legally possible |
| Contact me: Mobile 07751720507 Land line 01224 658962 Use Contact HERE |
| Bill Stevenson Ex HMRC Team Leader involved in initial set-up for operating COP9 in Wales Scotland & North. Ireland & Offshore Income Consultant |
Now HMRC are after the Medical profession
consult Bill for the latest news on the alternative
Amnesty called the THP (The Health Plan) - Medical
(Doctors Dentists etc) had until 31st March 2010 to
register for the new Disclosure Opportunity
Earlier News:-
HMRC's rumours have materialised -
(a) Firstly a second Tax Amnesty on more Offshore
Banking Accounts -
Called the New Disclosure Opportunity – started on
1st September 2009 and ended 12th March 2010
They are now pursuing the next batch of banks but you can
get assistance with your full disclosure via Bill Stevenson
before they decide to look at any disclosure you decide to
make - Act NOW - consult Bill !! - 07751720507
(b) Secondly they're looking to find the right cases to
prosecute for failure to react to the previous
amnesty of June/November 2007:-
I consider that these would be previous “investigation
cases” where the person investigated lied about or
concealed offshore assets when they were under enquiry
before. Remember Lester Piggot -even this household
name couldn't get off. But Bill can help you to avoid the
"LP" trap
(c) Lichtenstein has signed an agreement with the UK to
clean up the offshore accounts and anstalts and trusts etc
within the next 5 years. If you need assistance to ensure
you get it right - Consult Bill now.
(d) Footballers - using EBT & Image Rights & Loans to
avoid 50% tax rates
This article hopefully brings to your attention
(i) something that you need to act on now
(ii) or a possible initiative that tax advisers could apply to
their current clients.
However before reading on please remember that
since July 2008 the EU withholding tax has rocketed
from the paltry 15% to a more worthwhile 20%. Equally
it won’t be that long before it hits 35% which will
make it even less profitable to “take the chance”
with salting monies offshore.
OK read on: (if the above has not grabbed your attention)
consult Bill for the latest news on the alternative
Amnesty called the THP (The Health Plan) - Medical
(Doctors Dentists etc) had until 31st March 2010 to
register for the new Disclosure Opportunity
Earlier News:-
HMRC's rumours have materialised -
(a) Firstly a second Tax Amnesty on more Offshore
Banking Accounts -
Called the New Disclosure Opportunity – started on
1st September 2009 and ended 12th March 2010
They are now pursuing the next batch of banks but you can
get assistance with your full disclosure via Bill Stevenson
before they decide to look at any disclosure you decide to
make - Act NOW - consult Bill !! - 07751720507
(b) Secondly they're looking to find the right cases to
prosecute for failure to react to the previous
amnesty of June/November 2007:-
I consider that these would be previous “investigation
cases” where the person investigated lied about or
concealed offshore assets when they were under enquiry
before. Remember Lester Piggot -even this household
name couldn't get off. But Bill can help you to avoid the
"LP" trap
(c) Lichtenstein has signed an agreement with the UK to
clean up the offshore accounts and anstalts and trusts etc
within the next 5 years. If you need assistance to ensure
you get it right - Consult Bill now.
(d) Footballers - using EBT & Image Rights & Loans to
avoid 50% tax rates
This article hopefully brings to your attention
(i) something that you need to act on now
(ii) or a possible initiative that tax advisers could apply to
their current clients.
However before reading on please remember that
since July 2008 the EU withholding tax has rocketed
from the paltry 15% to a more worthwhile 20%. Equally
it won’t be that long before it hits 35% which will
make it even less profitable to “take the chance”
with salting monies offshore.
OK read on: (if the above has not grabbed your attention)
| Find out the rumours and topical things |
Duty of care (for Accountants) :-
I suppose it is a case of granny and sucking eggs for me to state the obvious that as tax
advisers we owe our clients a duty of care and it is arguable that we should be highlighting
to our existing clients the opportunities (and even greater risks) of the "New Disclosure
Opportunity" Tax Amnesty that started on 1st September 2009. There is also the
complication with the Leichtenstein Disclosure Facility running at the same time but with
different (and more favourable) terms but with more uncertainties
We all probably have seen the two sides to the amnesty with
(1) some clients worrying and losing sleep needlessly
while
(2) on the opposite side others are burying their head in the sand until that fateful letter
arrives on their mat with the "we have information......" well used phrase on the first page.
(3) Worse still of course inaction might result in a Section 20 RAID with little prior warning
and the subsequent feeling of the collar and taped meeting(s).
Given that most tax advisers will be linking up with their clients to get the 2009 tax returns
into the processing system, why don't you include a gentle reminder to each client just
pointing out that :-
"HMRC have opened up another tax amnesty for Offshore Bank accounts - just in case you
(the client) haven’t heard of the last one - and if there was anything that you felt that you
needed to bring to our attention in relation to this or any other aspect of your tax liabilities
for past years now would probably be an appropriate time to bring it up for discussion".
OK some advisers might think that this would prejudice their relationship with their client but
given that HMRC might be looking to find a suitable case or two to prosecute this could just
be the initiative that saves a client (and possibly yourself) a whole heap of trouble and costly
fees in due course.
If you are a taxpayer or tax evader without an adviser and you have understated your
income in the past (or trusted somebody that sold you a too good to be true "tax avoidance"
scheme) then bear the above in mind and take advice from somebody that knows what to
do......
Bill Stevenson has the experience and ability to broker the approaches to HMRC
and to hopefully get you {or the client} the best deal going and in some potential
prosecution cases CIF immunity from prosecution under COP9.
Please contact him as soon as possible for any second opinion or assistance in taking such
problems forward. The earlier a problem is recognised the easier it usually is to deal with.
Use the Form to get in touch and see what could be done.
No need to incur Big Four costs and fees for Big Four Expertise - I don't have their
overheads.
Bill Stevenson of WAMS Tax Ltd is here to help - Ring 07751720507 now
The comments on this site are solely those of the author who retains the copyright. Each
enquiry has its own dangers and opportunities that require full and detailed considerations
and advice. No responsibility can be taken for any actions that the reader decides to take
(or not take) after reading the text and articles unless you engage with the company and
Bill Stevenson on a proper fee paying client/tax adviser basis.
enquiry has its own dangers and opportunities that require full and detailed considerations
and advice. No responsibility can be taken for any actions that the reader decides to take
(or not take) after reading the text and articles unless you engage with the company and
Bill Stevenson on a proper fee paying client/tax adviser basis.
The comments on this site are personal views and solely those of the author who retains
the copyright. Each enquiry has its own dangers and opportunities that require full and
detailed considerations and advice. No responsibility can be taken for any actions that the
reader decides to take (or not take) after reading the text and articles unless you engage
with the company and Bill Stevenson on a proper fee paying client/tax adviser basis.
WAMS Tax Ltd - Bill Stevenson - 07751720507
the copyright. Each enquiry has its own dangers and opportunities that require full and
detailed considerations and advice. No responsibility can be taken for any actions that the
reader decides to take (or not take) after reading the text and articles unless you engage
with the company and Bill Stevenson on a proper fee paying client/tax adviser basis.
WAMS Tax Ltd - Bill Stevenson - 07751720507
The comments on this site are solely those of the author who retains the copyright. Each
enquiry has its own dangers and opportunities that require full and detailed considerations
and advice. No responsibility can be taken for any actions that the reader decides to take
(or not take) after reading the text and articles unless you engage with the company and
Bill Stevenson on a proper fee paying client/tax adviser basis.
enquiry has its own dangers and opportunities that require full and detailed considerations
and advice. No responsibility can be taken for any actions that the reader decides to take
(or not take) after reading the text and articles unless you engage with the company and
Bill Stevenson on a proper fee paying client/tax adviser basis.