Motor Industry, Tax Investigation

Xeinadin Group



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This client came to CM accountants as his companies were the subject of a high level investigation by the H M Revenue and Customs.

He was anxious because, acting on information from his previous advisers, he had made incorrect entries in his accounting records, and prosecution for fraud and false accounting was a very real possibility.

His two businesses, not to mention his health, were suffering as a result of this investigation. Prosecution seemed inevitable, resulting in the almost certain winding up of the companies and his own bankruptcy.

CM accountants took over the investigation and quickly secured agreement that our client would not be prosecuted and that he would be dealt with under the Civil Investigation of Fraud procedures. We negotiated a very cost effective financial settlement with the H M Revenue & Customs and restructured our client’s companies, to close down the loss making side and concentrate on the profitable trade.

Record keeping was rationalised on computer and today the company enjoys a rate of growth and high levels of profitability that previously seemed impossible.