Mazars was recently invited to act for an individual who had received a letter and a Code of Practice 9 booklet from Special Civil Investigation’s (SCI) Offshore Fraud Project Group (OFPG).
Armed with information pointing to the existence of an offshore bank account going back to 1979, the OFPG suspected serious fraud. The individual commissioned us to prepare a disclosure report setting out exactly where his Tax Returns were incorrect. The report covered the maximum 20-year period and considered each source of income from this time period.
The OFPG confirmed their total agreement to all of the report’s findings within just 48 hours. The case was settled with an offer for tax, interest and penalties with the whole process from appointment to conclusion taking less than six months.
