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Another success by our indirect tax team

14 February 2022

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The VAT and Customs Duty team at James Cowper Kreston have had a significant success for a client by reducing HMRC’s proposed inaccuracy penalties from nearly £500,000 to nil!

Using our technical knowledge and previous HMRC experience, we reviewed the circumstances which caused the error, provided evidence and analysis to the HMRC Appeals & Review team which resulted in HMRC changing their views of the case. They changed their classification of the penalty behaviour from deliberate to careless with a 75% reduction of penalties and suspension of the rest. This has saved our client a potential £ 500,000 penalty and the threat of publication as a deliberate defaulter.

The outcome of the HMRC enquiry is now fully complete and the client has updated their due diligence processes to enable the development of new projects and to build a brighter future.

Another very delighted client for James Cowper Kreston!

The client commented “I have been a client of James Cowper Kreston for 6 years during which I have received a fantastic service.

However, they have outdone themselves this time. My company and I were facing fines of half a million pounds from HMRC. I was told it was difficult (near impossible) to have them reduced and I would have to pay the fines or face liquidation/bankruptcy. 

I was reassured by the team at James Cowper Kreston that they would try their hardest to have the fines reduced. However, today they broke the news to me; the fines (the lot) have been reduced to ZERO! from £500,000 to 000.00! It is hard to express what I am feeling right now but you can all guess.  

My heartfelt thank you to the entire team; I am eternally grateful.’

At James Cowper Kreston we pride ourselves on delivering expert advice to our clients, helping them to solve problems and grow their businesses. If you require any help or assistance please contact a member of our VAT and Customs team.