It is an unfortunate fact of business life that may well be investigated by HMRC through no fault of you or your accountant. HMRC now investigates businesses at random as well as for specific reasons. A thorough investigation is not a pleasant experience for anyone. No defence expert may be trampled all over.
If you are selected at random, you need an accountant who knows how HMRC works and thinks and is willing to fight your case. We ensure that the Treasury keeps its internal guidelines and not by the passage of the brand. Let’s talk through the research process and what to expect and support at all times.
There are various penalties HMRC can seek to impose following an investigation of unreported income. As well as having to pay tax, you can find them seeking penalties up to an amount equal to the tax, so doubling your tax bill. Interest on late payment of tax is also part of the agreement – not a pleasant experience. We can help minimise the penalties.
While with random investigations anyone can come in the research, you can help avoid the possibility of an investigation into their business for other reasons. We know the triggers that often lead to research if you have not explained to HMRC when submitting returns to them. Each tax return or a set of accounts submitted to the Taxman goes through an anti-investigation scanning control to identify areas that may lead to an investigation before they are submitted without explanation. This really helps minimise the chances that you are on the wrong side of an investigation.