APS Accountancy. Tax Investigation
No matter the size of your business or if you haven't done anything wrong, HMRC can launch a tax investigation at any time. There doesn’t have to be a specific reason. When everyone is feeling the economic pinch, the risk of an inconvenient, expensive and time-consuming tax investigation is higher than ever.
If HMRC states its intention to investigate your tax payments don’t panic. Call us – your dedicated accountant and best defence. We will translate the many complicated questions the taxman may pose, manage the entire conversation with the taxman, help you submit any required information and minimise the impact on your business or personal life.
However, the cost of supporting you throughout an investigation is not covered in our usual accountancy fees. This is where our protection service comes in.
Tax Investigation Facts:
Many tax investigations are random. Unusual fluctuations, undisclosed accounts and random spending can also prompt an enquiry into individuals and companies.
The tax man has the power to inspect business documents and assets at your premises, ask for documents and information, make unannounced inspections and go back up to six years to investigate matters.
Disruptive, intrusive and expensive - when HMRC investigates it can drag on for a year or more, creating mounting costs and rocketing stress levels.
£800 million has been allocated to target tax evasion, in a bid to fill the public finance black hole.
HMRC recuperated £26.6 billion worth of tax last year, with 1,289 of these investigations resulting in prosecutions.
Powerful new software can trace even the smallest discrepancy in spending or earnings, prompting an investigation into individuals and businesses.