Medical Practitioner – Suspected Serious Fraud Investigation

Xeinadin Group



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A voluntary disclosure of previously unreported liability was about to be made by an accountant, on behalf of a client, to HM Revenue & Customs (HMRC). The solicitor of that client, recommended a consultation with CM accountants Limited, as he had experienced outstanding results in other cases dealt with by CM accountants.

An overall initial appraisal of the position was provided to the client, who had been a medical practitioner for many years. The case involved a liability to Income Tax, and possible VAT, as a result of deposits made to a large number of offshore bank accounts which had been held in excess of twenty years.

The medical practitioner engaged CM accountants Limited as a result of this initial meeting and work was undertaken to obtain the best possible outcome for the client.

A thorough examination of the information that was intended to be supplied to HMRC revealed that this original disclosure was incomplete; a number of sub-account numbers had been opened internally by the bank giving rise to additional taxable amounts. An incomplete Disclosure falls within the HMRC Prosecution Policy and a disclosure made on this basis could have been self- incriminating.

The original Disclosure was corrected, which would have increased the liability, but, as a result of the application of particular specialist knowledge, CM accountants Limited concluded the negotiations with the Investigating Inspector civilly, with the result of a financial saving of almost £160,000.

If you would like a free appraisal of your personal taxation position, or that of a Company of which you are a shareholder or director, particularly if you are already under investigation by HMRC, or have concerns if an enquiry were to be opened, you should contact one of Cobham Murphy Limited’s ex HMR&C high-level investigation experts.

You can contact us by telephone, fax or e-mail as follows:-

Telephone: 0151 285 3100
Fax: 0151 285 3131
e-mail: [email protected]