Taxing Matters

A little over 18 months ago and the idea of government enforced national lockdowns would have seemed like a very unlikely Orwellian concept indeed and yet, since then, over 100 countries have instituted at least one lockdown, affecting billions of people worldwide.

In this episode, we are joined by Price Bailey's Nikita Cooper to discuss the myriad of unintended consequences lockdowns have had on tax residency for individuals and corporations. From employees stuck abroad while visiting relatives to senior management inadvertently changing the corporate residency of their companies, we explore some of the practical implications.  

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With financial pressure mounting on the Government, and with an additional 1000 new fraud investigators announced in the last budget, many expect the frequency of HMRC dawn raids to increase considerably.

From HMRC cars used as battering rams to offices swarmed by bulletproof vest wearing investigators (both real events albeit not typical!), we are joined by Michelle Sloane in this episode who shares with us some of the many experiences she had had when attending dawn raids. In an adrenaline fuelled and extremely stressful dawn raid scenario, you need to understand your rights, the process and how to ensure you take the right action on the day.

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In this episode of Taxing Matters we are joined by John Cassidy, a Tax Resolutions Partner at accountancy firm Crowe UK. A tax veteran of over 25 years, when it comes to tax investigations, what John hasn't experienced, written about or lectured on isn't worth knowing!

In this extremely practical discussion, John takes us through the lifecycle of a HMRC enquiry using real-life case studies to highlight actionable insights and common mistakes. From challenging misconceptions to revealing trends in behaviour from the Revenue, John's insights may prove invaluable the next time you have to deal with an HMRC enquiry.  

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In this latest episode of Taxing Matters we take a closer look at the recent case of Asholt and Arundell v HMRC, which involved a challenge to the lawfulness of a search warrant which had been executed by HMRC.

Leading barrister Jonathan Fisher QC, who has over 30 years of experience in financial fraud and tax cases and founder of Bright Line Law, joins us to discuss how you can challenge the lawfulness of search warrants and some of the practical difficulties involved in such a challenge.

We consider the process of obtaining a search warrant, what materials fall within the description of the warrant, and the specific powers granted to HMRC officers. Jonathan provides expert insight into how to successfully challenge search warrants by way of judicial review.  

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In a special cross-over episode with our sister podcast Insurance Covered, this episode looks at the growth in popularity of tax liability insurance.

Giles Hambly, a Tax Specialist in the Major Risks Practice at global insurance broker Gallagher joins us to explain what tax liability insurance covers, how it works in practice and why many businesses are now choosing to take it out.

From potential hidden M&A risks to future tax policy changes there are a multitude of reasons why businesses might take advantage of the protection afforded by such coverage. Given Giles' background as a former tax adviser and lawyer, before his subsequent segue into the world of insurance, Giles provides a unique insight into tax liability insurance and explains why it might have an important role to play in your business too!  

Show references

Insurance Covered podcast series

Gallagher M&A practice

RPC M&A practice

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In this episode, we are joined by Simon York, Director of HMRC's Fraud Investigation Service (FIS). Created only five years ago, FIS has already secured 3,700 criminal convictions for serious fraud and protected over £25 billion in assets.

By exploiting the latest developments in virtual currencies, encrypted communications and financial systems, tax fraud is becoming increasingly complex. Simon talks to Taxing Matters about some of the key trends and how they are shaping FIS' strategic focus for the future.

In particular, Simon discusses how advice and assistance from professional enablers is becoming an increasingly vital element of tax fraud – and how FIS plan to counter it.

Show references

HMRC’s response to the rise of the enabler

The J5 website

Corporate criminal offence Taxing Matters episode

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Twenty episodes ago, in early summer last year, our Taxing Matters podcast focused on the newly emerging risk of furlough fraud. Now, nearly a year on (and three iterations of the Coronavirus Job Retention Scheme later) David Francis, Head of Tax Dispute Resolution at Grant Thornton, joins us to discuss this important and evolving topic.

At the outset, a key concern was whether the speed with which the Coronavirus Job Retention Scheme was set up might create a situation where innocent but incorrect, or fraudulent, claims would be submitted to HMRC. With an estimated 5 to 10% of all furlough claims, or approximately £3.5bn, falsely or incorrectly claimed, the Government has provided £100m of additional funding to HMRC's Fraud Investigation Services (FIS) to investigate suspected discrepancies.

David discusses the tools FIS have at their disposal and the action HMRC is taking to uncover fraudulent claims – and offers some pertinent advice to businesses who may have concerns about the claims they have made.

Show references

Taxing Matters: Furlough Fraud

Furlough fraud and Government clawback: managing the risk

HMRC's new powers to investigate furlough abuse

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The backlog of criminal cases (especially for those relating to fraud) has increased considerably. It is reaching worrying levels resulting in administrative difficulties and substantial cost, both in financial and emotional terms.

In the past year, the number of outstanding Crown Court trials has risen by over 40% with trial dates now being fixed up to four years after the time of the alleged offence. With the delays causing significant evidential difficulties – not to mention the toll it takes on all parties who are left in limbo for prolonged periods of time – a proposal to reduce the number of jurors has been put forward as a solution to addressing the backlog.

In this episode, Professor Michael Saks joins us to discuss whether this proposal really will solve the problem, what the unintended consequences might be, and whether it is worth the trade-off. 

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With now over 100 countries signed up to the international information exchange known as the Common Reporting Standard (CRS), last year HMRC received 84 million details of bank accounts covering one in 10 UK citizens.

As CRS data is increasingly used by HRMC to identify who should be targeted for investigation and "nudge letters", it is vital that individuals and businesses understand what information is being collected and what HRMC are doing with it.

In this episode Dawn Register, Head of Tax Dispute Resolution at BDO, joins us to explain exactly what the CRS is and discuss its increasing importance for those UK residents with financial accounts and investments overseas. 

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Described by a previous guest on Taxing Matters as “the last bastion of the citizen against the Government", the importance of judicial reviews cannot be overstated. Yet, with the Government launching an independent review into judicial reviews, could the outcome spell future limitations and curtail the rights of businesses to access this important legal challenge?

In this episode Saima Hanif QC, a barrister at 3VB, joins us to explain what this review could mean for the future of judicial reviews and, more importantly, for your business.

Saima's broad practice spans insurance, financial services and commercial litigation, but her judicial review expertise is unparalleled – having acted in one of the few successful judicial reviews of a decision made by the FCA.

Show references

Tory party manifesto

Independent Review: Terms of Reference

Taxing Matters episode: Fair's Fair – Judicial Review and Tax Disputes

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