[mark dew]

the vat ,has more powers than the police ??

yes. Just like customs.

[windowwashers]

the vat ,has more powers than the police ??

yes. Just like customs.

Vat are customs and excise arent they 

[Clive McDonald]

You've gone off topic. Honesty is not what the thread is about. I'm sure you are all very honest.

It's about income versus expenditure. What Tenent had to say was interesting he said they chased the customers of the swimming pool man on the surmise that buying one was a dodge to get rid of 40k without him(the taxman) knowing.

The hole in tenents story is of course that if they were all buying cash (and presumably not wanting a receipt) the swimming pool man would have been in bother first.There are also money laundering laws to consider, when purchase in cash exceed about 4k (i think ) their is an automatic notification process.

Similarly in Joe's opening story the friend got queried on the purchase of a van. The friend should have known right off that he was on thin ice and fixed things. If he wasn't able to fix it, then he should have made an honest admission at the earliest opportunity and minimized the penalties.

Ewan thinks FSB is gonna save you

[mark dew]

i find this an interesting post. I thought you kept receipts for this reason.

[Clive McDonald]

No you're not even on the same page. Helen said it, you have a beamer and a powerboat on the drive, how did they get there?
You only declare 28k.

[mark dew]

what page is that? I thought the original post was about someone who had purchased work related equipment and inflated the costs?
So he should have got a receipt and kept it.
But he either altered it higher or he 'lost' it and just gave the figures anyway.
If he had a receipt for the value he declared he could have been alright. If he didn't, he was taking a chance.
Not worth the hassle for whatever tax he should have paid on a measely £1500.

[Clive McDonald]

Correct Mark.
As soon as they approached him over this he would have known, these things usually come about because they have been given information. (make a note never to divorced or confide in anyone over a drink).

His options were to square it with the seller in some way, or to make an admission at the earliest opportunity. He wouldn't have escaped penalties but I don't think he would have got seven times.

Not many years ago 1970's you could just put it in another bank account. They changed the law where they could pry into this and a friend of mine who couldn't get his father in law to desist from this had to cough 100k.Remember the market traders and used car salesmen who had those grotesque gold bracelets, thick necklaces, and bought villas in spain. All dodges to splash cash where it couldn't be quantified.

Things have moved on.

[Simon_King]

I seem to remember something in the news recently saying the Inland Revenue are after the power to enter your home without warning.
I know of a builder who owns a new 5 bedroom house, drives a Ford Maverick pick up , wifes got a nearly new Volvo and theyve got 5 kids. 2 of which are at uni and get max benifits. Says he declares he earns 300quid a week. Never been investigated.
I cant work it out.....just how does he make ends meet?   :

[Clive McDonald]

It's worse than that, they can take it all if they can reasonably claim it was gotten dishonestly.

Some Market traders into fakes have had it all taken, some market operators have been ordered to pay back hundreds of thousands of pounds that it's claimed were paid by people peddling fakes. (they get some, get them to admitt they traded dishonestly for twenty years, then get the twenty years rent off the market operator)

[Joe Lauzon]

It's worse than that, they can take it all if they can reasonably claim it was gotten dishonestly.

My mate reckons he could have folded his limited company, and all debts to the IRS would have been wiped clean as the company owed it, not him? 

He didn't as they would have taken his company assets, which were worth more than the fine.

[Joe Lauzon]

No you're not even on the same page. Helen said it, you have a beamer and a powerboat on the drive, how did they get there?
You only declare 28k.

LMAO! 

[Helen]

the vat ,has more powers than the police ??

yes. Just like customs.

Vat are customs and excise arent they 

They are all one "body" now, hence the Title HMRC....Her Majestys Revenue and Customs. Used to be separate as Inland Revenue and Customs and Excise.

[alanwilson]

aye but the vat man is not the same as income tax - the vat people really can just come in and take everything apart.


I'm not kidding.

[Neil271052]

I know of a builder who owns a new 5 bedroom house, drives a Ford Maverick pick up , wifes got a nearly new Volvo and theyve got 5 kids. 2 of which are at uni and get max benifits. Says he declares he earns 300quid a week. Never been investigated.
I cant work it out.....just how does he make ends meet?  :

And that is exactly the point.

The revenue get the vast majority of investigations from tip offs from neighbours etc who see people like your neighbour and phone up to report them.