I’ve Been Accused Of Tax Evasion – What Do I Do?

If you’ve been accused of tax evasion, chances are you’ll be feeling distressed. It’s important to keep in mind that tax fraud and evasion is a serious crime and that burying your head in the sand does not mean it will go away eventually. In fact, ignoring the situation will only serve to make everything worse in the long run.

There are many reasons why someone could find themselves falsely accused of tax evasion – maybe you placed too much trust in your accountant when they mentioned a ‘foolproof’ scheme. Or maybe you overlooked something when completing your tax return. Whatever the reason for the accusations, we strongly advise seeking professional legal advice from a specialist tax solicitor.

Keep in mind: HMRC are legally allowed to name and shame criminal tax avoiders who owe more than £25,000.

Could I go to prison for tax evasion?

Tax evasion is a serious crime that has seen a crackdown from the law in recent years. If found guilty, you could be facing a prison sentence, especially if this is not your first offence. The maximum penalty for tax evasion is seven years or an unlimited fine.

HM Revenue and Customs now have greater powers to obtain information regarding your tax affairs and have specialist solicitors and barristers to go after suspected tax evaders. This is why we strongly recommend that you act quickly and hire the services of a professional who will fight your corner.

What will happen if I am accused of tax evasion?

HMRC will want you to pay the money that you owe them in unpaid income tax, but they will also want to see a prosecution if you’re found guilty during an investigation for tax. They may even want to make an example of you to deter others from the temptation of income tax evasion, money laundering, etc., especially if you owe a lot of money.

If you’ve been accused of tax evasion, contact one of our experienced tax solicitors today. We have decades of experience in dealing with HMRC, and can advise you accordingly for your HMRC inspection, interview under caution and everything else.

What is The Criminal Finances Act 2017?

On the 30th September, the Criminal Finances Act 2017 came into force. This was a government response to the infamous “Panama Papers” Scandal and promises to crack down on firms that have failed to prevent tax evasion from taking place. If you’re a firm owner who is facing prosecution for your involvement in a tax evasion scheme, please contact us and we will advise you of your next steps.

What Should I Do If I’ve Been Accused Of Tax Evasion?

The first thing you should do if you’ve been accused of tax evasion is to seek legal advice and representation immediately. The correct legal support will help you throughout your investigation and your solicitors will be able to advise you on your next steps.