In April 2010, the Crown Prosecution Service (CPS) joined forces with the Revenue and Customs Prosec...
Compliance checks are not viewed to be a criminal inquiry, but instead an investigation into any potential wrongdoing or attempt to hide false information declared as true. In the case of individuals, the checks are most often used as a way of establishing whether a person has underpaid their taxes, these can be part of a simple routine checking procedure.
Individual local compliance investigations occur when HMRC is alerted to a possible problem. Due to the powerful nature of the HMRC’s database, information is gathered on most aspects of a person’s financial dealings. The database can be triggered in instances regarding your income reports, declaration of assets, amount of bank interest received, your capital gains or other matters relating to your tax reports. A local compliance investigation can also be undertaken if it is believed that the source of your income is something other than what was declared on your returns.
During the procedure of a local compliance investigation an expert specialist accountant will walk you through each stage and work with HMRC to create a quick solution. While during this communication the client remains wholly responsible for the tax fault, the accountant is there to mediate and by all possible means, remedy the investigation until its end. Due to the nature of HMRC, the more co-operation given throughout the investigation directly relates to the penalty charge received if any misdemeanour is established. Please contact us today to find out about the ways our specialist tax accountants can help your business.
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