You don’t have to be Jimmy Carr to be put in the spotlight about your tax affairs. Being investigated by HMRC is no laughing matter, especially as it’s becoming more common. The temptation is to assume that if you pay the right amount of tax, you will be exempt from any kind of tax investigation. But this isn’t the case.
HMRC is becoming even more rigorous in checking the tax affairs of small and medium sized businesses. As part of a package of new measures, they have updated their overall approach and are now targeting specific trades and professions. So what does this mean for you?
Don’t assume – Even if you have an accountant and you’re been paying the right amount of tax, you could still be investigated by HMRC.
Don’t panic – You can take out fee protection insurance which covers all the costs involved with your accountant dealing with an investigation by the taxman. This gives you added peace of mind for the long-term.
Don’t do it yourself – When you receive notification of an investigation out of the blue, it’s natural to want to try and tackle the issue yourself. Our experience has shown that it is much more effective to get an experienced professional to liaise with the HMRC on your behalf.
Talk to us – We have a great deal of expertise in supporting businesses that are being investigated by HMRC. If you have any concerns about this issue, we’re here to help. Please call us on 0115 871 5842 or email us at: firstname.lastname@example.org.