Why You Should Have An Expert Tax Fraud Lawyer

Why You Should Have An Expert Tax Fraud Lawyer

Even Albert Einstein commented that the hardest thing in the world is to understand income tax and while he may have been over-exaggerating a bit the point still rings true that the tax system – whether income or VAT related – can be incredibly complicated.

This is why so many companies fall foul to HMRC every year and many businesses are accused of tax fraud and VAT fraud when they didn't knowingly do anything wrong. There are numerous reasons why you may be investigated for fraud in relation to your business tax and need to seek a lawyer as it happens far more often than you may think.

Ignorance Doesn't Get You Off

It is easy to say that you simply didn't know or understand that you made errors in paying your taxes. After all the tax system is inherently complicated even for experienced business owners. It might very well be true however ignorance isn't going to get you off with HMRC.

You might not have declared everything on your tax return simply because you thought that you didn't need to disclose certain things. It is a common mistake but one which gets many businesses get in trouble with the tax man for large sums of money.

Tax Changes All The Time

If you are preoccupied with your business then it is probably the case that you haven't kept up to date with the latest changes to the tax system. This happens a lot in regards to changes at an EU level and some businesses who work overseas get accused of MTIC fraud when they haven't been kept informed about current EU tax rules.

An expert tax fraud lawyer in London will be able to advise you accordingly to ensure that all your business dealings whether in the UK or with other EU countries and beyond will be above board and that you pay the right amount of tax.

Penalties Can Be Reduced

When a business gets a letter from HMRC informing them that they owe X amount in unpaid taxes or are being investigated for potential fraud then alarm bells start ringing. Some companies do knowingly fail to declare income or commit tax fraud but for the majority it is a mistake on their part.

The initial reaction is to try and get rid of the bill as quickly as possible however with a good lawyer who is experienced in tax matters then you may be able to get your penalty reduced. At the end of the day HMRC want to see at least some of the money owed paid back and if the penalty can be reduced and you are able to keep trading then it is a better situation for everyone.

If you operate a business in the capital – or just want expert tax advice – then it is recommended to seek out a VAT fraud defence solicitor London. Not only will it keep you and your business on the right side of HMRC but a solicitor can help reduce any potential charges or fines as well.

To speak with a lawyer today call 020 792 5649

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