½Û×ÓÊÓƵ

Managing serious defaulters

Produced by Tolley in association with
Owner-Managed Businesses
Guidance

Managing serious defaulters

Produced by Tolley in association with
Owner-Managed Businesses
Guidance
imgtext

Introduction

The managing serious defaulters (MSD) programme is an enhanced monitoring programme for certain individuals and businesses who have been found to have deliberately evaded the tax system and who HMRC therefore consider are ‘high risk’. It looks closely at a defaulter’s tax affairs to ensure that they are complying with all their tax obligations and tackles ongoing risk through early compliance activity. HMRC’s aim is to deter people from defaulting in the future and to reassure honest taxpayers that serious defaulters will be penalised and their tax affairs closely supervised.

Individuals and businesses will be notified by HMRC of their inclusion in the programme, and a copy of the letter should be sent to the authorised agent.

The letter is accompanied by factsheet CC/FS14.

It should be noted that there is no monetary limit that must be breached before someone is included in the scheme. There is also no right of appeal against inclusion in the scheme. However, the defaulter will have exhausted all appeals processes and internal review processes before

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+â„¢
Guy Smith
Guy Smith

Senior Manager, Independent Tax


Guy joined Independent Tax in November 2022, returning to his roots handling tax investigations, disclosures and all manner of other HMRC tax disputes, on behalf of the firm’s clients. His remit also includes mentoring junior colleagues and managing the firm’s social media content and marketing output.Guy’s previous roles have included 15 years at HMRC and a similar length of time at Markel Tax, where he managed the team of Senior Tax Consultants, alongside delivering live presentations and webinars to accountants.Guy has been a consultant editor and writer for Tolley Guidance since July 2012 and a member of the ICAS Technical Bulletin editorial board since May 2014.

Powered by

Popular Articles

Class 1 v Class 1A

Class 1 v Class 1AClass 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met

Read more Read more

Tax implications of administration and liquidation

Tax implications of administration and liquidationThis guidance considers the tax implications of a company going into administration or liquidation.Introduction to company administration and liquidationCompany going into administrationA company which is in financial difficulty may go into

14 Jul 2020 15:29 | Produced by Tolley Read more Read more

Overseas property businesses for companies

Overseas property businesses for companiesOverviewReal estate income is generally taxed where the property is located; the UK tax treaties generally allow the jurisdiction where the land is located to tax income from the land.Therefore, a UK company with overseas property may be subject to tax in

14 Jul 2020 12:22 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax, part of AMS Group Read more Read more