Tax Investigation Accountants

How tax investigation accountants can help

Even if a tax investigation may feel simple to resolve, defending yourself or your business is often a losing proposition, as HMRC has specially trained staff who will, or should, ensure that every nuance of the regulations are adopted by you. We’re often approached when investigations have spiralled out of control, and it feels like HMRC has you backed into a corner where you will have to either put up or pay up.

To make sure you’re treated fairly and proportionately throughout the investigation process, it’s essential you have highly-trained tax investigation accountants on your side. They will mount a robust defence of your position and understand the myriad of tax provisions potentially in play.

Why is HMRC targeting you?

HMRC has been directing more and more resources toward tax investigations. This focus has much to do with closing the ‘tax gap’ – the difference between what is collected in tax revenue and what would be collected if everyone complied fully with their tax obligations. To make matters worse, it’s estimated that HMRC lost nearly £6 billion to fraud and error related to the various COVID-19 grant and support schemes.

In fact, HMRC has created an entire division known as the Taxpayer Protection Taskforce, which identifies and targets individuals and businesses who may have engaged in tax evasion during the COVID-19 pandemic. With this in mind, it’s vital that you respond to HMRC correctly, at the earliest opportunity and with specialist guidance.

Our experienced tax investigation accountants understand what HMRC will be looking for and can help you anticipate where things will go next. A tax investigation accountant can also negotiate settlements on your behalf that are bound to be more favourable than anything you could negotiate on your own.

What information will HMRC analyse?

Every tax investigation begins with a letter from HMRC landing at your address. At the bare minimum, HMRC investigators may ask questions regarding a specific part of your tax affairs. However, HMRC may issue a formal compliance check or conduct a full investigation. In both situations, you will need an experienced tax investigation accountant or specialist by your side. Why? Because a full investigation could result in HMRC looking at all your information, including:

• Sales records and invoices
• Expense receipts
• Personal and business bank statements
• Credit card statements
• VAT records and chequebook
• Payroll records
• Correspondence with third parties
• Purchase and Sale agreements
• Employment contracts
• Details of gifts received
• And at times, request information outside of its powers.

Our Tax Investigations and Dispute Resolution team will ensure that HMRC acts within its powers and will challenge requests where necessary. Our team are dedicated to lightening your load. In the face of a comprehensive tax investigation, our seasoned tax investigation accountants take charge of the extensive paperwork, reducing the burden on you. Trust us to handle the intricacies and respond effectively to HMRC enquiries, ensuring a smoother process for you.

The importance of tax investigation accountants

By choosing Buzzacott as your tax investigation accountant, we will:

• Conduct a thorough review of you and your business tax affairs to grasp the full scope of issues and risks.
• Collaborate with your current adviser (if any) to devise a strategic plan, minimising exposure to avoidable
  taxes, interest, and penalties.
• Handle disclosures professionally, presenting them to HMRC to ensure fair and proportionate treatment.
• Strive to expedite your tax investigation, resolving all issues promptly with minimal cost and disruption.

Get in touch

If you’ve been notified of an HMRC tax investigation, our tax investigation accountants are ready to help. Call us today at +44 (0)20 7710 3389 or fill in the form below, and a member of our team will be in touch. All communications are in the strictest confidence.