BY TAX ACCOUNTANT

HMRC TAX INVESTIGATIONS

HMRC Tax Investigation Specialists

We are a team of specialist accountants, chartered tax advisers and Ex HMRC Inspectors who bring together knowledge and experience to deliver a cohesive and practical approach to advising clients on HMRC investigations and disputes.

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HMRC Tax Investigations and tax inquiries are turning out to be significantly regular and can lead to considerable tax liability if managed poorly. Experienced technical understanding, careful negotiation and tips, and advice can often significantly impact the final tax liability, penalty, and costs. For anybody under investigation by HMRC or who need to make a tax disclosure (voluntary or prompted), our tax specialist team has knowledge, skill, and experience in dealing with HMRC Tax Investigations. They can take care of your case from start to finish, advising you on the best plan of action to approach such cases. We are proud to be one of the finest HMRC Tax Investigation Specialists in the United Kingdom. Please call us to discuss your case.

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Who We Are ?

We Are Professional Accountants, Tax Advisors and Business Consultants

Our team consists of highly qualified accountants, Ex HMRC Tax Inspectors and industry known business consultants

What we do

How can we help

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If you are self-employed or have a small business, let our team of best accountants and tax advisors take care of your accounting and tax compliance

FAQs

We have tried to answer some of the frequently asked questions for taxpayers, individuals and businesses. However, if you need any further help or explanation, give our team a call for free advice.

What does a Tax Investigation entail, and what could be the reason I am under investigation?

HM Revenue and Customs frequently conduct investigations in the UK. It is an authorized inquest on your history of tax payments, and the severity of the inquiry will be entirely case dependent. Probes for tax investigations can be due to multiple reasons, such as:

Late filing of your returns
Your income has fallen by a significant amount
Inconsistencies between different returns
Incorrect information is given
A tip-off that HMRC has received
The result of a random check

HMRC are very disinclined to reveal any details, so finding out and identifying why the tax inquiry is taking place could be vital in helping you deal with it more efficiently.

Over what length of time HMRC can go back and Investigate my tax affairs?

Every case is different during a tax investigation, and depending on the facts of the individual case, this will vary and determine the time scale. For example, in certain situations, the HMRC might want to acquire documents and information up to 20 years, but it also may be a lot less depending on case facts. HMRC investigations are not only expensive, but they are also very time-consuming. This may cause a lot of everyday issues for most people, especially if HMRC want to investigate a number of years. Therefore, the taxpayer needs to find a solution quickly to avoid unpleasantly and over calculated assessments.

What amount of tax do I have to pay if I am under investigation?

If you are under investigation, you should check your books and records and find out if there have been any anomalies or mistakes, resulting in additional tax liability. No tax inquiry is straight forward as it seems. It may start from a simple compliance check and, if not appropriately addressed, can turn into a full investigation. You should talk to your accountant or advisor and include any losses that you haven’t declared for the past years. Remember, if you do not cooperate with HMRC, they have the authority to make the best judgment assessment, which can be more than the actual tax you owe.

How much in penalties I have to pay on underpaid tax for past years?

Penalties are calculated on several factors and relevant to the year, which is under investigation. For example, a tax penalty can range from 35% to 200% of tax payable for deliberate conduct. It will also depend on your cooperation with HMRC to provide information and calculate untaxed income calculations.

How long can I expect a tax investigation to last?

It depends on the scope of inquiry or investigation and the type of letter you have received. For example, simple compliance checks can be finalised in one or two meetings, whereas investigations like Code of Practice 9 may take eight months to a year to finish. If proper records are not available, time spent to collect information will add up to the investigation time.

Not answered above?

If you need advice regarding your personal circumstances, please call our office or book an online appointment.

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We pride ourselves as one of the emerging online accountancy and tax firms for individuals and small businesses in the United Kingdom

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Tax Accountants called me shortly after I had set up a company just as I was looking for an account. They asked a few questions and my intentions and they explained about tax planning saving me the time of blindly fishing around in the dark.

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Amazing service and FREE Advice !!! What an amazing setup. Thank you very much for your help guys and I look forward to working alongside you in the future. Special thanks to Mr. Malik as he was the only one that I needed to talk to to get everything set up. Thank you again

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May 26, 2021 7:37 pm

HMRC TAX INVESTIGATIONS

HMRC Tax Investigation Specialists

Contact our specialist tax investigation professionals

With our knowledge we guarantee success

Few ways to contact us

We Are Professional Accountants, Tax Advisors and Business Consultants

What we do

How can we help

FAQs

Not answered above?

We are leading network of qualified accountants, tax advisors and specialist business consultants in United Kingdom

Get a appointment with our Expert

What our clients say

Contact us today to make an appointment

Head Office

Landmark, 3 Brindley Place Birmingham B1 2JB

Email: info@taxaccountant.co.uk

Phone: + 44 800 135 7323

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Landmark, 3 Brindley Place
Birmingham B1 2JB