Do you need help fighting the Taxman?
We understand that a tax inquiry can be an unwelcome, and sometimes frightening, proposition. In order to protect your business during a tax inquiry it is essential that you receive expert advice and guidance. WeAccountants can help guide you through tax enquiry and help you defend your business. While there are a number of tax enquiries that opened at random, usually there is a specific reason why the HMRC will open a tax enquiry.
Typically a business will learn about the tax enquiry from HMRC through postal mail. At first the HMRC want certain points clarified or they may want to look at some of your records. In the case of a full enquiry they will want to see all of your business records. If the HMRC has informed you that they are about to undertake a tax enquiry we recommend you reach out to WeAccountants for specialist help. By examining your business records we can help to identify specific areas that may have caused concern for the HMRC.
There are various penalties HMRC can seek to impose following an enquiry for undeclared income. As well as having to pay the tax, also you have to pay the penalty and interest as well. It’s not a pleasant experience; in the case that the issue is due to oversight often will be able to arrange early settlement with the HMRC and minimise any penalties or interests. WeAccountants have a record of dealing with tax enquiries and minimising the amount requested by the HMRC.