HMRC Enquiry & Tax Investigation
We have a team of dedicated and knowledgeable tax professionals who will help you with any HMRC enquiry issue.
HMRC enquiry and tax investigation
We are experts in resolving HMRC enquiries and tax investigations for our clients. We can help you respond to any general HMRC enquiry, ensuring that your matter will be handled with care and consideration while still meeting all its requirements.
There is a procedure in place for individuals and companies who HMRC suspects of committing fraud. It can be an incredibly stressful time if you happen to get caught up with this investigation process. However, you must trust your advisers at this point to preserve any legal right that may exist.
Tax authorities have a variety of ways they can investigate taxpayers. One type is the general inquiry, which usually doesn’t result in imposing fines or charges unless there’s evidence to suggest that an individual has been evading taxes for several years and committed fraud through their claimed earnings on returns.
The experience of our tax accountants is what makes it one of the best in the industry. We’re able to guide you through any HMRC enquiry and tax investigation with ease. So, it’s essential to have an expert team of accountants on your side with ample experience in dealing with investigations by HMRC.
Our team will help you navigate the HMRC system and ensure that your assets are adequately reported. We’ll guide you through every meeting, explaining what is happening at each stage, so there’s no confusion about what your next steps should be to avoid penalties and charges.
HMRC Enquiry Specialists
Tax investigation:
Naseems Accountants will ensure you get the best possible outcome if HMRC is investigating or even just looking into your tax affairs. We can help manage inquiries and ensure all documentation and information is prepared for an investigation.
If you get the letter that informs you that HMRC will be looking at your tax affairs, you must think about how you can respond because if there’s an error, it can impact the penalty that could be due. The letter might provide some clues as to what the HMRC’s priorities are, for instance seeking information about your interest in a bank or capital gain.
Our team has years of expertise in this field and will assist you in answering and managing your enquiry to ensure the optimal outcome.
Contractual disclosure facility (CDF):
If you get a letter from HMRC soliciting you to use the CDF, get advice from a professional because the reason is quite simple: HMRC suspects you have committed tax fraud.
You must act fast, or HMRC will begin an investigation and make a criminal trial in the hope of prosecuting you. HMRC prefers to address tax fraud suspicion via the CDF following the civil procedure as laid out in the Code of Practice 9 (COP9). You will be required to fully disclose the intentional and non-intentional activities that resulted in problems with your tax affairs.
However, the two outcomes to occur from COP9 notice is:
- If you cooperate fully, the penalties could be reduced. If a legitimate disclosure is submitted, HMRC will look to end the investigation without delay.
- If you refuse to cooperate, HMRC will take over the investigation, which could result in a criminal investigation and request information regarding your business and financial affairs from third-party sources. The investigation could be detrimental to your suppliers, customers, and other business contacts as they will be targeted.
Tax investigation and disclosure are delicate and intricate, and dealing with HMRC is stressful. But there is a chance for you to avoid being charged with tax fraud if you fulfil all the obligations of CDF and fully disclose all the information required to HMRC.
Naseems Accountants knowledgeable and tax experts will assist you through the CDF procedure and make sure you fulfil your obligations to resolve issues with HMRC.
Help With HMRC Enquiries and Tax Investigation
HMRC campaigns:
HMRC organises ‘campaigns’ to persuade individuals in specific fields or industries to report undisclosed income or under valued income. As part of a campaign, you’ll be required to calculate your taxes, income, and interest due as well as penalties. Penalties could range up to 20% of the tax owed. If HMRC finds out by themselves, the penalty could be severe with up to 100% of the unpaid tax. Therefore, it is wiser to disclose payments through the campaign to avoid a more significant fine.
Naseems Accountants will provide the expertise and advice that ensures any imposed fines are as small as possible, so your company isn’t held back due to the recent change in HMRC policy.
Contentious HMRC enquiry:
In general, negotiations with HMRC are simple. But there may be an inconsistency between your point of view and HMRC’s. However, the issue may be related to the disclosure of information or specific to your field of work. Such matters could cause discontent, and that’s why our expertise can be of great help.
We have many years of experience handling complex issues with HMRC with a satisfactory solution for our clients.
Sometimes HMRC is at fault; previously, we’ve had success filing a claim against HMRC as having an investigation against you could have put a financial burden on you and therefore the claim can help get rid of some of that burden and give you compensation for the stress caused.
We have a team of dedicated and knowledgeable tax professionals who will help you with any HMRC enquiry issue.
Voluntary disclosure:
Taxpayers are suggested by HM Revenue & Customs (HMRC) to notify the tax authority when they realise that they didn’t pay the correct tax during the previous tax year.
This procedure is known by the term “voluntary disclosure”. It typically allows taxpayers to settle their finances and unpaid debts with no substantial penalties.
To make voluntary disclosures, either an individual or a company can use DDS (digital disclosure service) to make a voluntary disclosure. DDS is used to notify HMRC that the proper amount of tax on income, Capital Gains Tax (CGT), National Insurance (NI) contributions, or Corporation Tax has not been correctly declared.
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Our HMRC enquiry and tax investigation advisers can provide sound advice and guidance on how best to handle an HMRC investigation. So, reach out today by booking a free consultation.
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