Two tax advisers, their wives and a financial adviser are allegedly being prosecuted for cheating the public revenue through their involvement in connection with a tax scheme, “which took advantage of the legislation providing tax relief on the donations of share to charities". They were first interviewed by HMRC in 2006 in relation to the scheme which was being promoted as recently as 2004.
Reports of the case suggest that:
- Roy Faichney and David Perrin, two tax advisers, (who were not qualified accountants but who ran the tax practice at Vantis accountants) are accused of setting up a sophisticated scheme which involved hundreds of clients.
- Vikash Kulkar, a financial adviser, helped attract people to the scheme.
- The tax advisers' wives are also accused of involvement in their husbands' dealings at the accountancy firm.
I have explained my views about this case before (see below) and remain confused as to what really prompted what seems to me to be a very heavy handed approach by HMRC. And I say that as someone who is no fan of structured avoidance schemes. But equally I am no fan of discriminatory persecution of professional advisers.
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