Business Operational
Knowledge

Knowledge is Power

During this process, we endeavor to first understand your Business Operational Knowledge, with regards to the internal structure, day to day operations, products and services as well as the general business environment. 

Contact Our Specialist Tax Investigation Professionals

Business operations

KEY TO BETTER COMPLIANCE
AND TAX SAVINGS

Our Tax Advisors usually start by first understanding the history of the business as well as business various persons and concerns which the business may have dealings with. We will also then familiarise ourselves with the owner(s) and directors of the business as they may also become part of a tax investigation. This action places us in the best position to properly take care of your tax accounting needs and provide you with meaningful insight and advice on how to structure your business operations in such a manner as to minimize the risk of any negative tax repercussions. Because we take the time to properly familiarise ourselves with your business, we are also able to customize solutions which will best suit your needs, as the tax environment can often be complex and thus one size does not fit all.

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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

HMRC Investigation

For various reasons, HMRC may decide to investigate your business to determine any tax payment or discrepancies.

Tax Evasion

Tax evasion is also referred to as tax fraud, which should indicate how seriously it is taken by HMRC. Call us if you are under Tax Evasion charge.

Tax Avoidance

Avoiding tax is the deliberate arrangement of using legal methods to lower tax liability. Technically its Legal but may be fall into avoidance.

Tax Penalties

Every different form and band of tax see the application of a separate penalty for misconduct, usually in the form of a fine.

Choose the best Personal Tax Accountant

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.

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.
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.
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.
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.
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.

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

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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