Advisors Favour General Tax Amnesty
Tax Amnesty – Advisors Favour General Tax Amnesty. A survey of nearly 100 accountancy firms has discovered that almost 80 percent of tax advisors favour a general disclosure facility for people to declare unpaid tax from the past.
HMRC has previously introduced targeted campaigns aimed at specific industries, such as plumbing and the medical profession, encouraging people to declare undeclared income by liming their liabilities to fine and penalties.
The advisors who were questioned overwhelmingly backed an all encompassing amnesty that would be open to all of their clients.
Three of the main features of the amnesty the advisors would like are a guaranteed immunity from prosecution, a low fixed penalty rate and the facility for a time to pay agreement.
Sean Wakeman of Crowe, Clark Whitehill, who conducted the survey said: This survey indicates that accountants overwhelmingly believe the time is right to introduce a general domestic tax amnesty and are extremely willing to promote such an amnesty to all of their clients in stark contrast to how they have promoted the LDF. This survey also indicates that a Helpline Service should be set up to support the introduction of a GDF.”
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
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Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
