HM Revenue & Customs may decide to look at your tax affairs for a number of reasons. In all cases it is important the correct strategy is used to ensure that the enquiry or investigation is completed as quickly and cost effectively as possible. It is also important to remember that the role of HMRC has changed and that their focus is now on maximising tax collection and no matter how helpful they may seem professional advice is needed.
HMRC have indicated that they will be investing more than £900m into working against tax avoidance and evasion and therefore the number of taxpayers who find themselves the focus of HMRC’s attention will increase. The reasons why HMRC may decide to look at your tax affairs include:
- Random enquiries;
- Focussed enquiries into a specific source of income or gains;
- An HMRC taskforce review of a particular “high risk” industry;
- Participation in an identified tax avoidance scheme;
- Identification of offshore assets; and
- Code of practice 9 investigations and criminal investigations.
We can assist with all of the above and will deal with each on an individual basis to ensure the best possible outcome is achieved for you. We have an experienced team with over 20 years of experience in successfully resolving these issues for clients.