In recent years, HM Revenue & Customs (HMRC) have ramped up their tax investigations resources.
If you receive a communication – either a letter or a visit from a member of the HMRC tax investigation team – it is important to seek urgent, expert advice to ensure that the matter is handled expertly and your financial affairs are properly protected.
Why might I be the subject of a tax investigation?
Tax investigations are more likely if:
- You have files tax returns late, paid your tax late or have made any errors in your returns which require corrections
- There are inconsistencies between your tax returns returns or there has been a significant increase or reduction in your income or costs
- You operate in an industry that HMRC deems to be ‘high risk’ for example construction, or your costs appear to be unusually high for your business sector
At Accountx we are able to assist you with tax enquiries relating to VAT, annual accounts, Corporation Tax and Self-Assessments.
We have an excellent track record of negotiating with HMRC to agree a favourable financial settlement, including mitigation of penalties.
We also specialise in handling disclosures relating to incomplete or incorrect returns, ensuring the process is managed as quickly, discreetly and leniently as possible.
Our aim is to give you peace of mind during the enquiry process and, by acting as an intermediary between you and HMRC, we can quickly resolve matters so that you can get on with running your business.
Disputes with HMRC, which result in a Tax Tribunal appeal, can occur for a number of reasons and can include issues relating to:
- Income tax including self-assessment and tax paid under PAYE (pay as you earn)
- Corporation tax
- Capital Gains tax
- National Insurance Contributions
- Construction Industry Scheme deductions
- Information Notices
- Penalty Appeals
If you believe that the tax you have paid is incorrect and you need to appeal against a decision made by HMRC, please contact the team at Accountx.