Let us handle the stress
Being the subject of a tax investigation by the Inland Revenue can be a stressful experience. With the onset of personal and corporate self-assessment, Revenue staff can now review cases on a 'sample basis’, therefore, anyone could be selected for enquiry by HMRC.
It is estimated that there is a £40bn tax gap between what HMRC think is due and what they manage to collect. As a result, HMRC has been tasked with reducing this deficit, so all businesses are at risk of tax enquiry/investigation. The present technique is to focus on certain sectors for investigations and landlords, GPs, barristers and plumbers have all been heavily targeted in recent times.
Rules relating to penalties
HMRC have also changed the rules relating to the penalties charged, reflecting the level of intent of providing incorrect information. HMRC penalties range from 15% of potential lost revenue for failure to take reasonable care, up to 100% for deliberate and understatement with concealment.
We have a wealth of experience in dealing with Inland Revenue investigations, whether they are enquiries into an individual's Tax Return under the Self-Assessment regime, more detailed enquiries or employer-related investigations into areas such as PAYE and P11D compliance.
How can we help?
If you are about to be the subject of an investigation, we can:
- Help collate information and ensure the correct information is provided to HMRC
- Deal with any further requests for information
- Ensure HMRC do not extend the enquiry unnecessarily
- Help negotiate a final settlement that includes interest and penalties
- Help negotiate time to pay
If you need expert help and support, we urge you to get in touch with Hill Lillis and Company, without delay.
Keep in touchFor more information on the above, please Contact Us or telephone on 0121 384 4222 and we will be glad to answer any questions you may have. Even better, why not book your FREE consultation today, it only takes a minute. At this stage, if you are just looking for an idea of how much our services cost, then please feel free to complete our Request a Quote Form and we will get back to you within 48 hours.
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