It’s not a one size fits all.
An individual who had deliberately failed to declare consultancy fees as well as operate PAYE on his housekeeper’s salary, sought Crowe’s advice.
Our client was an accountant, hence rightfully concerned that HMRC might seek to prosecute him for tax fraud.
We recommended he make a request to participate in the Contractual Disclosure Facility to secure immunity from prosecution.
This allowed him to rectify his affairs and pay the tax he rightfully owed, without the anxiety of criminal sanctions.
Given the specific and self-contained nature of the issues, Crowe managed to agree with HMRC that the outline disclosure contained sufficient information so it would not be necessary to complete a full-scale CDF report, as the standard procedure would demand.
This significantly reduced the amount of time and cost involved in reaching settlement with HMRC.
Protecting the client from prosecution and severe damage to their pockets.