HMRC has been allocated an additional £73m to focus its tax investigations on high net worth individuals and offshore accounts.
While your tax position may stand up to scrutiny from HMRC, the prospect of an investigation is never welcome and can not only take a great deal of time to clarify but will cause a huge amount of stress and worry to those affected.
As with many things in life, there are ways to mitigate the unpleasantness.
- Get your affairs in order before a tax investigation is even considered – Use a reputable accountant or tax specialist who can help you minimise your tax bill legally and morally. A few hours of their time could save you far more tax and stress. We have teams who can cover personal tax and business tax; whichever you require.
- Get peace of mind that in the event of a tax investigation the professional fees will be covered. We offer a unique Tax Investigations Service, backed by our insurance with Markel Tax, whereby our clients (current and new) are able to have us handle full and aspect enquiries into various tax returns and disputes into VAT, employer compliance and IR35.
Get in touch so that you are prepared for that knock at the door.
