Tax Avoidance Schemes
Advice and representation for clients facing HMRC criminal and civil tax investigations, penalties, back-dated tax bills or litigation as a result of mis-sold tax avoidance schemes.
Tax Avoidance Schemes Legal Advice
At Cannon Chambers, we can offer you a highly experienced tax barrister providing advice and representation to clients who have been sold aggressive tax avoidance schemes, such as disguised remuneration schemes, artificial Employer Financed Retirement Benefit schemes (EFRBs) and Umbrella Schemes.
Tax avoidance schemes are often sold without a proper risk warning that clients may be investigated by HM Revenue and Customs, and receive judicial and press scrutiny.
If you have been a victim of a mis-sold tax avoidance scheme, you may be facing a lengthy tax investigation, demands to pay back-taxes with interest, potential penalties for tax evasion, and possible prosecution by HMRC.
Mis-sold tax avoidance schemes
Tax advisors and introducers make a commission from artificial schemes and often fail to make clients aware of legitimate ways of reducing or eliminating their tax bills. Those advisers may be liable for mis-selling tax saving schemes, especially those who either fail to explain the risks with such schemes or fraudulently claim that their schemes are approved by HMRC.
As a result, victims of tax avoidance schemes may be facing huge tax bills several times higher than their original investment – potentially leading to the loss of their business and/or their homes.
How Can Cannon Chambers Help?
We can offer you the services of a tax barrister with extensive experience in settling tax disputes with HMRC, acting for clients in claims for compensation, as well as representation in legal action against financial advisers and introducers.
We can offer you the services of a tax barrister at Cannon Chambers authorised by the Bar Standards Board to do Public Access Work and litigation, which means that they can work directly with clients to deal with their tax affairs, and manage HMRC tax investigations on their behalf.
Other Areas Cannon Chambers Can Offer Advice On:
Frequently Asked Questions
Yes, although HMRC often likes to confuse it with Tax Evasion which is a criminal offence.
- Gifting some of your assets to a son or daughter or grandchild with the intention that if you survive for a further seven years inheritance tax will be avoided on those assets when you die;
- Purchasing a piece of business property along with an expensive residence in order to ensure that the top rate of stamp duty is 5% rather than 15% or 17%;
- Planning to run a wedding reception venue in the grounds of a newly purchased country house bought by a company in order to avoid the 15% rate of stamp duty normally charged on purchases by companies of dwellings for more than £500,000.
Yes of course but you must ensure that you do so in ways that are legal and do not involve breaking the law or behaving dishonestly.
Tax avoidance is carrying out a transaction in a way that Parliament intended you to save tax e.g. investing in an ISA account in order to save income and capital gains tax. Tax evasion involves a breach of the law and usually dishonesty such as suppressing taxable income or claiming VAT on invoices that are false and have been generated in order to claim an input tax deduction.
The penalties for failure to pay the tax due normally involve a cash fine the amount of which varies according to whether you were merely careless or whether you were “deliberate” i.e. you knew that the entry on your tax return was incorrect. In more serious cases where a tax evader is prosecuted then the offender risks a prison sentence.