Here are some of the common triggers associated with HMRC tax investigations, along with how you can reduce the chance of them occurring.
HMRC tax investigations are not an experience the average business owner wants to endure.
HMRC tax investigations are expensive, time-consuming and stressful, lasting 16 months on average and cost you thousands of pounds in accountancy fees. They are almost a nightmare scenario; often not because you’ve actually done something wrong, but simply because you’ll be forced to manage your side of the investigation.
Unfortunately, you cannot totally eliminate the threat of a tax investigation. HMRC does occasionally conduct audits at random, with no conceivable trigger other than your business’ name popping up in their RNG machine.
However, while you cannot guarantee that you will not be investigated, you can certainly take steps to minimise the possibility.
One thing is for sure; detailed enquiries from the tax authorities cause stress and anxiety. An HMRC tax investigation can also take up a great deal of your time if not dealt with correctly, so that’s where we can help you.
We specialise in resolving tax investigations, tax enquires, tax disputes and conflicts with HMRC and we will help alleviate the worry of any such investigation.
The technical expertise within our Tax team is second to none. We operate on the basis that all clients receive the highest levels of professional representation, service, courtesy and value for money. If you are subject to a tax investigation by HMRC, please give us a call today on 020 7078 4094 to discuss how we can assist you.