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Specialist Tax Services

HMRC Tax Investigations

Our tax accountants are well trained in communicating with taxman regarding specialist tax services. If you have received an investigation letter, call us to book an appointment.

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Specialist Tax Investigation Services

HELP WITH HMRC
TAX INVESTIGATIONS

A tax accountant is a specialist tax consultancy. Our accountants have industry experience and are equipped with knowledge and skills to deal with HMRC investigations. Our network associates are former HMRC Inspectors and know the process thoroughly. You may be subject to a tax inquiry just for not filing your tax returns or a mistake or omission, resulting in a material loss of revenue. We have represented clients who have not been given sound and legal advice by other accountants. 

For whatever reason, if you receive a HMRC tax investigation letter, call our specialist team. We will discuss it with you and make an appointment with the relevant specialist accountant. Always remember we are local but national. Our accountants are a member of the network and work as a family. Help is always handy, and thanks to our proactive approach and resources are given to our specialist team, they always have an updated knowledge of taxes and the market.

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Our team consists of highly qualified accountants, Ex HMRC Tax Inspectors and industry known business consultants

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Our tax advisors have the experience, skills and expertise to handle complex tax matters and tax investigations

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HMRC will let you know if they open a tax inquiry into your tax affairs. They will send you a letter telling you they are checking your tax return or accounts. The letter will say what tax year they are looking at and what information they need from you. It is important to reply to HMRC’s letter within the deadline, usually 30 days. If you do not reply, HMRC can make a ‘best judgement’ on what tax you owe, which could mean you pay too much.

HMRC can open inquiries into tax returns up to 4 years from the end of the tax year the return relates to. For example, in September 2023, HMRC could investigate tax returns for the 2018/19 tax year, as that ended on 5 April 2019. However, if HMRC believes you have been careless or deliberately failed to declare something, they can investigate further. For carelessness, HMRC can look up to 6 years back. They can look up to 20 years back for deliberate errors and charge penalties on top of the tax owed. You must keep records supporting your tax returns for at least five years after submitting them in case HMRC investigates.

If HMRC opens an inquiry into your tax affairs, they will first write to you explaining which tax returns they want to check and what information they need from you. This may include bank statements, receipts, invoices and records of your income and expenses. You usually have 30 days to provide everything they ask for. HMRC will review all the documents in detail to check that you have declared and paid the right amount of tax. The inquiry may take several months to complete as they can reply with further queries. You may need an accountant’s help responding to HMRC’s questions. It is important to cooperate fully, answer truthfully and provide any evidence they need. At the end, HMRC will let you know the outcome. If they find errors, you may have to pay more tax plus penalties and interest for not declaring the right amount originally.

A specialist tax accountant can help if HMRC opens an inquiry into your tax affairs. When you receive the letter from HMRC, tell your accountant immediately. They can review your records and help you understand what information HMRC needs and why. A specialist tax accountant can assist you in gathering all the relevant documents and evidence requested to submit to HMRC within the deadline. They will likely have experience dealing with tax inquiries, so they can advise you on the best approach to cooperate with HMRC’s questions. If HMRC challenges figures in your tax return, our tax advisor can explain how the numbers were calculated and provide supporting documents, negotiate with HMRC on your behalf to reach the best settlement. Their expertise can ensure you supply everything HMRC needs to close the inquiry quickly, pay the right amount of tax owed, and avoid unnecessary fines.

It is possible to deal with an HMRC tax investigation without professional help, but this is not advisable. Tax law is complicated, so getting something wrong or missing an allowable expense is easy when responding to HMRC’s queries. This could lead to paying more tax than necessary or even penalties. Having an accountant experienced in tax inquiries, you can save time and stress trying to understand what HMRC requires. They will ensure you provide the right information and maximise your expenses to minimise your tax bill legally. Accountants can also negotiate with HMRC on your behalf to reach a settlement. While you will pay accountancy fees, having expert help will likely outweigh the cost by ensuring the best outcome and potentially saving you thousands in tax and penalties.

When it comes to tax investigations, its a long process. Some investigations may take more than a year to get resolved. Normally accountants will charge an hourly rate, but you can call us to discuss fixed fee option.

Our specialist tax accountants offer services to help clients voluntarily disclose offshore assets or income to HMRC. This could include undeclared income or gains from an offshore bank account, property abroad, investments or trusts. The specialist tax advisor will assess your offshore arrangements and advise if disclosure is necessary. They can then prepare the complex disclosure report for HMRC on your behalf, calculating any tax owed and negotiating with HMRC to get the best deal possible, potentially avoiding penalties. Their expertise ensures full compliance with regulations for offshore disclosures. Fees will reflect the work in reviewing documentation and preparing detailed disclosure reports. This specialist assistance gives you the peace of mind that your disclosure is handled correctly, minimising tax owed and future investigation risks.

When an HMRC inquiry results in you owing substantial additional tax, our tax accountant can help negotiate an affordable payment plan. Once the total tax bill is determined, including any penalties and interest, the specialist will request a payment schedule from HMRC on your behalf. This sets out repayment in monthly instalments over up to 5 years. The accountant will aim to arrange the lowest manageable monthly payments to suit your finances and spread the cost. They can explain if HMRC refuses certain payment arrangements and negotiate alternative solutions. Having an agreed HMRC payment plan prevents harsh debt recovery demands. Specialist involvement ensures the plan is realistic and HMRC formally approves details in writing. This provides peace of mind that as long as payments are maintained, HMRC cannot pursue further action to recover owed tax.

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