Tax Evasion/ Avoidance Question

[busgrw]

Hi,

Hoping someone can advise.

A friend of mine has recently realised that he has been a 'numpty' and avoided/ evaded tax around 8 years ago to the amount of £4000 (he was naive in his youth). It was something to do with paying less stamp duty than he should have when buying a house. Now he has found out, he wants to own up to it (potentially through the Contractual Disclosure Facility (CDF) if that's the right mechanism).

The question is, once he owns up to it, will he still be able to be a Director of his company and ultimately still contract?

[turbowoowoo]

Hi,

Hoping someone can advise.

A friend of mine has recently realised that he has been a 'numpty' and avoided/ evaded tax around 8 years ago to the amount of £4000 (he was naive in his youth). It was something to do with paying less stamp duty than he should have when buying a house. Now he has found out, he wants to own up to it (potentially through the Contractual Disclosure Facility (CDF) if that's the right mechanism).

The question is, once he owns up to it, will he still be able to be a Director of his company and ultimately still contract?

Any advise would be appreciated.

so 'your friend' had a change of heart after 8 years? why?

[MarillionFan]

Hi,

Hoping someone can advise.

A friend of mine has recently realised that he has been a 'numpty' and avoided/ evaded tax around 8 years ago to the amount of £4000 (he was naive in his youth). It was something to do with paying less stamp duty than he should have when buying a house. Now he has found out, he wants to own up to it (potentially through the Contractual Disclosure Facility (CDF) if that's the right mechanism).

The question is, once he owns up to it, will he still be able to be a Director of his company and ultimately still contract?

Any advise would be appreciated.

Your friend is dumb. Let sleeping dogs lie.

[cojak]

I sense an SC questionnaire looming...

[busgrw]

I sense an SC questionnaire looming...

What is an SC questionnaire?

[busgrw]

so 'your friend' had a change of heart after 8 years? why?

Honestly, nothing more than a better understanding of what he had done. He bought when he was very young and didn't know what he was doing. Now, he understands a bit more about the law, he is looking to rectify the situation.

[busgrw]

Your friend is dumb. Let sleeping dogs lie.

Not sure he would sleep well himself if he did that.

[MarillionFan]

Not sure he would sleep well himself if he did that.

I'd sleep a damn well better with the 4k in my bank than wasted by HMRC.

[OwlHoot]

I'm curious to know how your, um, "friend" managed to avoid paying the full stamp duty when property transactions are usually handled by a solicitor.

Presumably you, sorry _he_ (or she), made an extra undeclared side payment.

[Ticktock]

I'm curious to know how your, um, "friend" managed to avoid paying the full stamp duty when property transactions are usually handled by a solicitor.

Presumably you, sorry _he_ (or she), made an extra undeclared side payment.

My guess would be a reduced purchase price with an (artificially) inflated charge for fixings and fittings.