If you find yourself under scrutiny by HMRC, having a qualified tax investigation expert in your corner can make the process less stressful.
Sometimes, for reasons that aren’t always clear, HMRC will launch an investigation into the tax affairs of an individual or business. That can be difficult, time-consuming and expensive, even if the tax authorities conclude everything is in order.
Our clients benefit from our support all the way through the tax investigation process. We can provide advice on how the process works to put your mind at rest and handle conversations with HMRC on your behalf as your designated agent.
AudTax Specialises in Dealing with HMRC Tax Investigations
At AudTax, we specialise in all things tax. We’re helping our clients stay on the right side of HMRC by submitting their tax returns on time, ensuring relevant reliefs are used for maximum savings and, ultimately, keeping them safe during any HMRC investigations.
If you have recently received a letter or call from HMRC asking to look into your taxes or are worried about the implications of a tax investigation, then our expert tax investigations team can provide specialist advice.
Contact us today for a quick chat about our services or to arrange a free consultation.
What is a Tax Investigation?
A tax investigation or tax enquiry is when HM Revenue & Customs decide to look deeper into your or your business’s tax affairs and financial documents. The purpose of tax investigations is to ensure you have accurately reported your income and deductions in line with specific tax rules and regulations.
It is always best to be prepared for a tax investigation, as they can happen at any time for a number of reasons, such as a random inspection or if HMRC suspects an issue with a specific tax return.
How Does an HMRC Tax Investigation Start?
HMRC tax investigations can start for various reasons, even if you have followed the correct tax procedures. Sometimes, HMRC may wish to carry out random checks to ensure that all individuals and businesses pay their taxes correctly, which are known as civil tax investigations.
You will usually be contacted by HMRC directly, either by phone or by letter. They will explain what they want to check and any supporting evidence they need from you. These are all things that our expert team can assist with.
You can expect to be investigated for:
- Taxes paid
- Tax calculations
- Self-Assessment tax returns
- Company tax returns
- PAYE records
If you do get selected by HMRC for a tax investigation, do not be alarmed. Hopefully, you shouldn’t have anything to worry about, especially if you work with an experienced tax and accounting firm that will ensure your taxes are in perfect order.
What Are The Potential Outcomes Of a Tax Investigation?
Most HMRC tax investigations will result in no changes, especially if you keep on top of your tax obligations and file returns on time.
However, if HMRC does find that your taxes are not quite up to scratch, they will expect you to do something about it. This can include adjustments to your tax liabilities, facing potential penalties, and in some cases, if they suspect serious tax fraud or tax evasion, you may face criminal prosecution.
Working closely with our experienced tax accountants will help you follow the correct tax procedures, submit your returns on time and accurately each quarter, pay your employees in line with PAYE regulations and ensure overall financial stability.
What If My Company Has Not Committed Tax Fraud?
If you receive an HMRC tax investigation letter or a phone call and have not committed tax fraud, you may understandably be concerned. Don’t worry. HMRC tax investigations don’t necessarily mean you’ve done something wrong; they can be random and are just to ensure you are paying the right amount of tax.
It is always best to consult a professional, like AudTax, if you are concerned about your tax affairs. We’ll be able to provide you with the right advice and support to ensure both you and HMRC are happy.
What is a Tax Investigation Service?
Tax investigation services are there to help and protect you from an HMRC investigation, ensuring all the relevant documents are prepared, supporting you through any questioning and keeping you compliant.
With the help of a tax investigation specialist, such as AudTax, you’ll be able to go about your day-to-day business with peace of mind that your taxes are in safe hands.
Our Tax Investigations Service
Whether you have been selected for a random HMRC investigation or need to provide evidence for a specific tax return, we will work with you every step of the way.
Our specialist tax investigation service ensures:
- Briefing and advice on the process
- Communication with HMRC
- Preparation and presentation of evidence
- Disclosure of unpaid tax
For Sound Tax Advice, Contact AudTax Today
Tax investigations can bring a lot of stress and worry for business owners and individuals who work out their own taxes – and sometimes, the worry is completely unnecessary.
At AudTax, we are tax investigation specialists who can guide you through the process of an unnerving tax enquiry and ensure a smooth resolution. With our experience and knowledge of UK tax law, we’ll be able to help you understand what the enquiry is for and prepare all relevant documents so you can give HMRC a complete and accurate picture of your finances.
Contact us today to discuss how our services can be tailored to meet your specific needs.