SIOG5300 - Specialist areas: Insolvency and Securities teams

Fraud Investigation Service (FIS) is tasked to maximise HMRC’s recoveries in compliance cases where any form of insolvency is a feature. We use a range of civil interventions which can include pre-insolvency action. Insolvency proceedings may prevent a future loss of revenue to the Department, and in addition may assist in recovery of existing debt balances.

In some cases recovery action will be restricted to use of Insolvency Act legislation - particularly where the only identifiable offence is the avoidance of payment of an existing debt. Other cases will require a wider range of civil interventions where extractive or non-extractive irregularities are discovered. Taxes Act powers may be utilised but there will also be instances where civil actions such as freezing orders may be more appropriate.

A full review of any director’s personal tax affairs will usually be made - alternative powers of recovery using PAYE/NIC Regulations will be considered in appropriate cases.

Our intervention tools also include VAT and PAYE Securities legislation which will prevent further abuses by successor or non-compliant companies.

Finance Professionals Unit also has access to funding to assist in proactive intervention work as well as being able to provide cost guarantees and resources to tackle nil asset cases. Indemnities and insurance cover are often required for these types of actions. Specialist consideration of applications is necessary before approval can be given.

We have trained specialists who can offer assistance and guidance for the most appropriate solutions in specific cases.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)