KANGS Solicitors

Directors, are you aware of the reasons behind Director Disqualification? Company directors can face disqualification for failing to fulfil their legal responsibilities, with bans lasting up to 15 years. Disqualification can arise for various reasons, not solely due to deliberate misconduct or fraudulent actions; sometimes, it may stem from an error or unintentional negligence. In cases of company insolvency, an administrator or liquidator typically examines the factors behind the company’s decline. If they uncover misconduct by the directors, this could lead to disqualification proceedings. However, it is important to note that insolvency itself does not imply misconduct by its directors. Financial difficulties may result from external factors, such as the unavoidable downturns many businesses faced during the Covid-19 pandemic. John Veale recently authored an article that provides insights into disqualification orders, their connection to insolvency, voluntary undertakings, and related topics. Read the full article: https://bit.ly/3Aw5Bte #insolvency #DirectorDisqualification #CompanyDirectors

Handling HMRC investigations can be challenging for any organisation. In a recent article for the Solicitors Journal titled Navigating HMRC Investigations, Timothy Thompson emphasises the importance of adopting a rational approach and seeking professional legal guidance early on, are key for businesses in effectively managing HMRC investigations. Read the article: https://bit.ly/3YoQytf #kangs #TaxInvestigation #TaxDispute #hmrc

As the legal profession knows it is currently boasting season as the annual Legal 500 and Chambers UK legal directory rankings have just been published. I have spared you the glowing quotes cited in both directories as you may think that our friends and families have written most of them.   Our rankings are not the result of overnight success but reflect 27 years of hard work and dedication. We opened the doors of our first office in Moseley, Birmingham in September 1997. The rent was around £10,000 per annum and in the early days it was a struggle to make the monthly rent. As a new firm, we did not manage to achieve a legal directory ranking for a decade. We did not establish an office in London and Manchester until 2010.   Moral of the story – it’s a Test Match not a T20 game. Stay at the crease, just concentrate on not losing your wicket in the early days and the runs will eventually flow freely if you are passionate about what you do and have the drive to be the best.   A special mention to all those who run niche/boutique law firms. Managing a business is tough. Managing a highly regulated business even more so. I take my hat off to you for achieving recognition in the legal directories whilst being an employer and all the issues that entails. Our current government will no doubt make our job as employers infinitely easier in the forthcoming budget!   Well done to my colleagues John Veale, Helen Holder and Timothy Thompson for their recognition in this year’s legal directory rankings. I am extremely proud of the team we have built at KANGS Solicitors many of whom have been with the firm for over fifteen years.   As I have always maintained, legal directory rankings are great, but they are not the key defining feature of a good lawyer. Many of my fellow solicitors are not ranked for various reasons, some of their own choosing. The best way to hire a lawyer is through personal recommendation – always has been and always will be. If you are good, clients will find you.   Wishing you all a great week ahead.

HMRC can carry out a formal investigation or issue a formal Value Added Tax (VAT) assessment to determine a trader's correct tax liability. This typically occurs when HMRC suspects a discrepancy between the VAT a business has reported and the amount they believe is owed. Naz Maqsoom, an Associate at KANGS, recently authored an article (https://bit.ly/3YgwLgR) featured in Acquisition International Magazine, offering businesses valuable insights into VAT assessments. The article covers key topics such as time limits, notifications, and practical guidance on handling VAT assessments effectively.   What is the Kittel Principle? Over the last year, we have written numerous articles on Tax and HMRC related matters, and one of the most frequently asked about topics remains the Kittel Principle. We have compiled FAQs on the Kittel Principle and guidance on how to raise a dispute with HMRC, which can be found here: https://bit.ly/3BE5bRR #hmrc #kittel #tax #vat

A Melbourne entrepreneur, a Phuket property developer (who happens to be a trained tailor too), a Brummie lawyer and a Darwin land investor/farmer walk into a bar. The bar is in Kuala Lumpur, Malaysia. This is what happens when I travel and meet new people rather than stay in my comfort zone. A great two weeks in KL meeting entrepreneurs and business people from all over the world. The conference I attended during the first week of my stay was not aimed at lawyers but global entrepreneurs. The biggest topic in the bars and restaurants around the conference was not worldwide tax rates, tax disputes or tax domicile - much to my initial annoyance as acting in disputes with HMRC is the bedrock of our work at KANGS Solicitors! Whilst global economic topics were readily debated, believe it or not it was love and health that topped the agenda. People were interested in treating others well and being treated with kindness in return. If a country could offer such qualities and be perceived to be warm and hospitable, the people I met were interested in investing in it (and if it had reasonable taxes of course). Some people I met had truly inspirational stories such as three generations of a family kicked out of Uganda or families displaced by brutal regimes in Myanmar or South America. All had forcibly migrated from their original country with nothing and made a superb success of their life and have now been contributing to their new country for many generations. Sometimes we may forget that we also have similar success stories in the UK and therefore not all immigration should be tainted with negativity as we sometimes seem to do in the UK. If you have not been to Malaysia please give it a try. It’s a very welcoming country in Southeast Asia and in my view, it has been in the shadow of Bangkok and Singapore for far too long. Hope you all have a great week.

HMRC Kittel Assessments & Appeals We have just published an article on the challenges surrounding Kittel assessments and appeals in HMRC VAT fraud cases. HMRC normally cite several trading factors it considers 'suspicious or dubious,' which means they suspect a company 'knew' or are connected to fraud. Understanding these nuances is essential for anyone navigating the complexities of VAT regulations. Check it out to stay informed and better prepared! https://bit.ly/3TOx8fO #VAT #HMRC #KittelAssessments #TaxCompliance #BusinessInsights

In our recent article, we dive into Alternative Dispute Resolution (ADR) for HMRC tax disputes. Discover which cases are suitable for ADR and learn about the specific areas where HMRC will not entertain this approach. A must-read for anyone navigating the complexities of tax disputes! 👉Read the full article: https://bit.ly/3Zz5KWK #hmrc #TaxDispute #AlternativeDisputeResolution

HMRC Investigations into Tax Avoidance Schemes As the government allocates additional resources to recovering tax revenues, HMRC is expected to ramp up its efforts against individuals and organisations engaged in or promoting tax avoidance schemes. If you want to understand how to identify a tax avoidance scheme, the potential consequences of being involved, or what steps to take if contacted by HMRC, read on for more information. https://bit.ly/4dXcWQE #hmrc #tax

Are you curious about inheritance tax and how it can lead to disputes with HMRC? In our latest article, Timothy Thompson provides a general overview of inheritance tax and the responsibilities of the estate's executor or administrator, offering insights on managing these challenging situations. https://bit.ly/3YvFrR1 #InheritanceTax #HMRC #TaxDisputes

HMRC's 'Let Property Campaign' offers landlords a chance to settle their tax obligation on the "best possible terms." If you are a landlord who has received a 'Nudge Letter' from HMRC, it is crucial not to ignore it, as doing so can result in an HMRC Tax Investigation and a COP9. In recent articles, we have outlined the steps for making Voluntary Disclosures and how to report any previously undisclosed rental income to HMRC. Discover more in Timothy Thompson insightful article: https://bit.ly/4dnhlfB