Tax investigations have often been described as a rollercoaster of emotions. Having myself worked in tax investigations for the last 25 plus years I've seen this for myself.
I would urge you to stay calm and collected and also to consider any potential settlement with HMRC on a commercial basis rather than taking HMRC's view as being a personal affront and a personal attack on you.
Seek specialist advice
HMRC welcomes specialists being appointed because they realise it expedites the process and it allows your case potentially to be fast tracked to a conclusion. We will make an approach to the HMRC case officer to discuss the specific reasons as to why they have opened that enquiry.
Use a disclosure campaign
In the majority of cases what we could do is we could take advantage of a disclosure campaign such as the more recent Liechtenstein disclosure facility for offshore affairs or onshore facilities such as the property let campaign.