Football Legend Jailed For Tax Evasion

Last week World Cup West German World Cup winner Uli Hoeness cheered Bayern Munich (the club of which he was president) as they beat Arsenal in the Champions League.  Later that week he was in the dock being sentenced to three and a half years in prison for a €28.5m tax fraud.

Hoeness, who got a World Cup winners medal in 1974, admitted hiding his stock market gains in a Swiss bank account. He had taken part in a “voluntary disclosure”, which allows German tax dodgers to avoid prosecution by fully declaring their back taxes, and paying them along with 6% interest. But tax investigators discovered that Hoeness’ gains were 10 times greater than the amounts he had confessed to: and decided to prosecute him.

What does this mean for me?
With the large number of tax amnesties taking place in the UK at the moment this is a timely reminder that voluntary disclosures need to be correct and complete: if taxpayers are to benefit from the generous terms.  Where people send a disclosure into HMRC, using one of the tax amnesties (e.g. the Jersey Disclosure Facility) they need to realise that HMRC may still investigate the issue.  If HMRC discover that a disclosure is materially incorrect, then all of the benefits can be withdrawn, and a criminal tax prosecution can be launched.

How can Lynam Tax Disclosure Experts Help Me?

HMRC use specialists to review all voluntary tax disclosuresLynam Tax disclosure specialists can help you get your disclosure right first time: in order to benefit from all of the generous terms currently available.

If you have a disclosure to make to HMRC our experts have 67 years’ experience in this field and can help you now.

For an initially free and totally confidential consultation telephone:

Paul Lynam: 0845 643 9997

Andrew Nutbrown: 07718 778710