What disclosures are unlikely to be settled through THP?
HMRC anticipate that the vast majority of disclosures will be accepted. However, certain disclosures are unlikely to be settled under THP, including: • Any disclosure that is found to be materially incorrect or incomplete when checked by HMRC for accuracy and completeness. • Any disclosure by a customer who is currently the subject of an ongoing HMRC investigation. In such circumstances those who want to disclose liabilities should inform the investigator who has conduct of the enquiry. A full and early disclosure will influence the amount of penalty HMRC seek in any ongoing investigation • Disclosures where HMRC believe the money that is the subject of the disclosure is the proceeds of Serious Organised Crime. This includes VAT Missing Trader Intra Community (MTIC) fraud, VAT Bogus Registration fraud or Organised Tax Credit fraud and those involved in any wider criminality (such as an ongoing police investigation). Will I be prosecuted for tax evasion? Highly unlikely!!! Although HMRC
