Tax Evasion

Just in the tax year running from 2020 to 2021, the HMRC lost £4.8 billion and £1.2 billion to tax evasion and tax avoidance, respectively. These figures make it clear why, over the past years, measures have been taken to more efficiently detect and prosecute tax evasion. 

However, if you have been unfairly charged with tax evasion charges, prosecuted, or arrested, this event can have a profound impact on your professional and personal life. A specialised tax evasion solicitor at JD Solicitors can fight your corner and help you obtain the compensation you deserve. Learn more about tax evasion below or get in touch with our team for a no-obligation consultation about your case. 

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What is Tax Evasion?

Tax evasion refers to a series of practices and techniques employed by public and private entities to avoid taxation. These techniques include under-declaring your income, submitting deductible business expenses that are not considered valid by the law, or even following the advice of a tax avoidance advisor. 

In the past, only the person or businesses responsible for tax evasion offences would be prosecuted. However, following the introduction of the Criminal Finances Act 2017, the government enhanced measures to prosecute financial offences, including tax evasion and money laundering. As a consequence, today, businesses and individuals may be investigated for tax evasion even if another person (i.e.: an employee or third-party agent) carried out criminal financial offences in their name. 

What is tax evasion?
Tax Avoidance

Tax Evasion vs Tax Avoidance: What’s the Difference?

Tax evasion and tax avoidance are two types of criminal financial offences. Here’s how they differ:

  • Tax evasion: Tax evasion refers to an illegal activity that involves deliberately concealing, omitting, or misrepresenting data to reduce tax liabilities.
  • Tax avoidance: Avoidance is also an illegal activity, but this involves bending tax laws and regulations to gain a tax advantage that is not intended by the law.  

Some examples of tax evasion offences include:

  • Declaring only a portion of your personal or business income to HMRC
  • Hiding other channels of income
  • Keeping transactions “off the books” (i.e.: not providing receipts to customers and dealing in cash)
  • Hiding money and assets via an offshore bank account 
  • Reporting personal expenses as allowable business expenses

The team at JD Solicitors can help you better understand what crimes and activities constitute tax evasion. 

How Is Tax Evasion Reported?

You may be investigated for tax evasion by the HMRC if your business’s books or personal tax returns are suspicious. However, tax fraud may also be reported by other individuals via the HMRC’s online hotline. 

Following a report for tax evasion, a tax investigation or inspection will take place. During this step, agents of the HMRC will look into your business’s financial affairs to determine the extent of the crime. The investigation also aims to determine who holds responsibility for the criminal act and attempts to recuperate any lost tax money. 

Following a tax inspection, the police may request a warrant to search your home and you may be at risk of imprisonment, repayments, and financial penalties. 

A specialised tax evasion lawyer can fight your corner during the investigation and liaise with the parties involved.  

Affray sentencing

The Benefits of Having a Tax Evasion Lawyer at JD Solicitors by Your Side

If you believe that you have been falsely accused of tax evasion, you may be facing the prospect of a tax inspection. This can be unnerving, and put your whole professional and personal life on the line. 

However, you are not alone in this. The experienced team of tax evasion solicitors at JD Solicitors can help you prepare for your case, protect your rights, and ensure that you are compensated for being unfairly accused of tax evasion. Get in touch with our team at 01902 632 123 to book a no-obligation consultation.

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