Settlement with HMRC

For many, HMRC’s aggressive campaign has resulted in years of uncertainty and worry following multiple communications of varying complexity, hostility and more recently, accuracy.

Where this is the case, full and final settlement through one of HMRC’s settlement opportunities may seem an attractive proposition. It is important that the settlement is built on fair and robust principles which, in our experience, is often something that HMRC’s position lacks. 

Documentation and calculations will need to be checked for accuracy, adherence to legal process, penalty provision, valid notice periods and full confirmation that future liability is removed. WTT will offer HMRC a differing analysis built on factual interpretation, tax legislation and common law principles to seek a reduced settlement position. 

Following a settlement, it is important for investors to seek an exit from the scheme in a way which protects their taxable position. WTT has formulated methods for exiting partnerships in this way. 

For further information on practical application of an exit please contact us.

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I admire you for your professionalism. It’s good having that go-to place for a second opinion, even if the message is not always what we would like to hear. Honesty is of utmost importance for building that trusted advisor relationship and you have stuck to your guns.