TAX INVESTIGATIONS & CONSULTANCY

HMRC is investing more and more effort into carrying out investigations on businesses accounts and also individuals’ tax returns with a view to recovering lost tax. They also focus on PAYE and VAT inspections.  They have recently been given a new weapon in their armoury, in that they can now select small and medium sized businesses, without any particular reason for investigation, but demand to see their books and records to carry out a check to ensure that resulting accounts that are produced are supported by adequate books and records, in order to give the HMRC confidence.

All of HMRC’s investigations and checks referred to above can carry penalties and interest, as well as any undeclared tax.

The cost of dealing with the HMRC in these matters can be very high in terms of professional fees, and for this purpose we have established a scheme with one of the largest companies in this country, whereby for an annual fee you will be covered for all of our professional fees in dealing with such an investigation, our attendance at a VAT or PAYE inspection, or our attendance at the newly instituted records checks.

The provider of this facility also has dedicated tax consultants, to whom we can refer for clarification of contentious or complex points.