Without going into details - this is on my other thread re: 24 month rule.
If you submit an annual return to HMRC and it relies on an interpretation that HMRC might not agree with what can potentially happen?
Appreciate that falsifying and blatant fraud is one thing (which is not clever at all) but, as I've found out, there is a lot of interpretation (IR35 is a prime example!). Appreciate also that, as there should be, theres a different between deliberate/negligent issues and accidental/wrong interpretation....
In the first instance, what do HMRC do? Surely no-one goes through a company return in detail?
In reality, if they disagreed with an interpretion, what would happen? Pay it back? Pay it back with interest added? Fines as well?
Basically, £2000 up front for something that 1) May never get picked up on, 2) May be ok anyway, and then 3) May only cost £2200 if it all goes wrong.
Anyone got any experience thereof?
If you submit an annual return to HMRC and it relies on an interpretation that HMRC might not agree with what can potentially happen?
Appreciate that falsifying and blatant fraud is one thing (which is not clever at all) but, as I've found out, there is a lot of interpretation (IR35 is a prime example!). Appreciate also that, as there should be, theres a different between deliberate/negligent issues and accidental/wrong interpretation....
In the first instance, what do HMRC do? Surely no-one goes through a company return in detail?
In reality, if they disagreed with an interpretion, what would happen? Pay it back? Pay it back with interest added? Fines as well?
Basically, £2000 up front for something that 1) May never get picked up on, 2) May be ok anyway, and then 3) May only cost £2200 if it all goes wrong.
Anyone got any experience thereof?
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