Penalties under CoP9 can be significant, including repaying the tax owed, interest charges, and fines of up to 200% of the tax due. Full cooperation with HMRC can help mitigate these penalties.

The duration of a CoP9 investigation depends on the complexity of your financial affairs and the level of cooperation with HMRC. It can take several months to years to fully resolve.

Yes, you can refuse the CDF; however, HMRC may pursue a criminal investigation if they believe serious fraud has taken place. Seeking expert advice before making a decision is highly recommended.

Ignoring a CoP9 notice can lead to severe consequences, including legal action, higher financial penalties, and potential criminal prosecution if HMRC finds evidence of tax fraud.

If you receive a CoP9 letter, it is crucial to act quickly by seeking professional tax advice. You must decide whether to accept the CDF and make a full disclosure or deny any wrongdoing, which may result in further investigation by HMRC.

HMRC issues a CoP9 notice if they believe you have deliberately underpaid tax or provided inaccurate information on your tax returns. It offers you a chance to disclose any tax fraud and settle the matter without facing criminal charges.

A CoP9 investigation is launched by HMRC when they suspect serious tax fraud. It allows individuals to make a full disclosure of any tax irregularities through the Contractual Disclosure Facility (CDF) in exchange for immunity from prosecution.