Tax Investigation

Are you facing a HMRC tax enquiry?  Firstly don't panic! Secondly, get in touch with us right away!

 We have plenty of experience in dealing with HMRC regarding enquiries, and it is never as bad as people expect. Not surprisingly, the uncertainty and the expected scrutiny of the situation is enough to bring on cold sweats in most people! Just remember though, at the end of the day, you are dealing with fellow human beings who just want to do their jobs. There are certain steps you can take to ensure you make their job much easier, which will instantly help:

Always make sure you contact them before the initial deadline; even if it is just to let them know you have appointed an accountant, and you need an extended deadline to get client authority and initial checks done. In all the enquiries we've dealt with, this request has never been rejected.

Let us know of any potential errors you suspect you may have made. No matter how large or small, we need to know so that we can identify the most effective way to present those items to HMRC.

Get your records in order. Gather as much information as possible for the period concerned, including sales invoices, purchase receipts and bank statements. We can then check through your records and look for errors, both for and against you. You would be surprised at the amount of enquiries we've undertaken where we realise a new client hasn't been claiming the full tax relief on certain items!

Tell us about why you made those mistakes and if there are any mitigating circumstances. If you've made errors and you end up owing extra tax, that will need to be repaid, there is no way to avoid that. What you can do though, is reduce any associated penalties and surcharges, by replying to HMRC in a timely manner, with good quality information, drawing their attention to any areas of concern. If they feel you are being completely honest and transparent, then the penalties will certainly be less severe. Letting them know about why your accounts weren't prepared correctly will also help. If there has been illness, bereavement or damage to business records/systems for example, they are far more likely to consider penalty reductions or even remove them altogether.

Start to make payments to HMRC as soon as you realise you have back tax to pay. If we advise you early on that we expect there will be tax due, don't wait for the enquiry to conclude before you start making repayments. Any payments on account made during this process will reduce the final liability and interest charges, and also show a willing and commitment on your part. They are then much more likely to agree a suitable repayment plan upon conclusion.

With us at your side we will make the whole process as stress free and prompt as possible. We will deal directly with HMRC on your behalf, and also fight your corner if we feel HMRC aren't being fair. So please, don't go this alone, get in touch today and let us ease the worry.
Book your free 30 min initial consultation!
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