Tax Investigation
HMRC performs tax investigations to determine if taxes have been properly paid. To ensure compliance, the UK government requires taxpayers to correctly determine the amount of tax they owe.
With its comprehensive ‘Connect’ database, HMRC has ramped up its taxation inquiry rate to more than 80%, synthesizing data from up to thirty separate sources. It scrutinizes every angle of taxation, and most recently it has kept an eye on compliance of the Covid-19 financial aid packages.
With the unprecedented government spending necessitated by Covid-19 and the energy price freeze, HMRC is under increased pressure to launch more tax investigations to help offset the cost.
WHAT WOULD TAX INVESTIGATION INVOLVE
HMRC may send you a letter or make an in-person visit to your place of business. During the visit, they may review your books and records or request more information concerning certain tax return transactions. Once the enquiry is concluded, an assessment may be imposed if HMRC finds additional tax is due.
In the event of an inquiry, our team is available to respond to HMRC’s requests for information and attend any related meetings. All documents will be presented with comprehensive clarifications, and if an assessment of additional taxes is made, we will take the necessary steps to contest it.
THE RESOLUTION
We provide protection to clients under which, in the event of a tax investigation from HMRC:
You can have the peace of mind that we are able to completely protect you against any HMRC tax investigation with no additional expenses.
Why should we have tax investigation insurance?
- HMRC enquiries can be random and can come at any time.
- Enquiries are increasing as HMRC looks to generate more tax to fund the enormous spending through the Covid-19 pandemic.
- HMRC is using enquiries to guarantee the right use of measures implemented to aid the economy during the Covid-19 crisis, HMRC are conducting investigations.
- If you are subject to an enquiry our experts will help you save money and time.
- Our standard accountancy fees do not include the cost of dealing with enquiries which can be costly and complex, even if no additional tax becomes due.
- Our Tax Investigation insurance protects you against costs incurred dealing with HMRC enquiries.
If you would like to take advantage of the tax investigation insurance head over to our Tax Investigation Insurance page for more details about signing up. Alternatively contact us today
