Tax evasion is illegal in the UK, and those convicted face severe punishments. In 2022, the tax gap resulting from fraud in the UK increased from 43.7% to 45%, reaching £14.4 billion.
London Stadium Associate Partners Elena Meskhi & Co discuss the seriousness of tax evasion and how they can help.
Tax evasion occurs when an individual attempts to evade or defeat any part of the income tax system and there are several reasons why business owners fall into the tax evasion trap.
One reason is that business owners believe they will never be caught because they do not file their own personal tax return. Other reasons include business owners thinking that the government does not care about them as individuals or they cannot afford to hire a professional accountant to assist them with their taxes.
Tax investigations are time-consuming, expensive and stressful for any business owner, and is just the beginning if you have avoided paying taxes or concealing your assets. If the investigation concludes in that you have committed tax evasion, it could lead to serious criminal charges.
Elena Meskhi & Co offer consultations through their team of certified tax advisors and accountants to help anyone dealing with tax evasion charges.
The London Stadium Associate Partner can help you deal with tax evasion in other ways to avoid prosecution altogether by giving advice on paying back the taxes owed.
Their team of professionals have a collective 150 years of experience in handling tax investigations. The high caliber of expertise has led to a 95% success rate in handling tax investigations. This means that when the tax investigation case is closed, their clients were not issued any penalties, they were owed money by the tax authority.
To find out more on how Elena Meskhi can help you, check out the link below and fill the form at the bottom of the page: