Tax can often be a complicated aspect of business, and it can become even more complicated – or at least more of a concern – when HMRC chooses to investigate you, either as an individual or as a business, to ascertain just what is happening with your tax.
HMRC tax enquiries
can happen at any time to anyone, and since HMRC doesn’t need to have any particular reason to launch an investigation like this, you will never truly know if one is coming your way, but since more and more are being carried out, you should always be aware that it could happen to you. No matter what size of business you are, from a sole trader to a large limited company with hundreds of employees, HMRC tax enquiries can be launched and an investigation carried out.
An investigation into your taxes from HMRC is long-winded and drawn out, and it can be extremely distracting from your everyday business duties. It is necessarily intrusive and, even when you have nothing to hide, as will be the case for most business owners, it will be a stressful time.
During an HMRC tax investigation, HMRC will have the power to inspect any business documents they feel are important (going back as much as 20 years), and any assets you might have, and they can do this at your premises – if you work from home, you can see how this would clearly be very problematic.
If you don’t have the time or you don’t want the stress of dealing with an HMRC tax investigation yourself, speak to us. Our professional expertise in exactly this situation means that we can assist with any part of the investigation that might be required, from offering advice where necessary to taking on the entire task through our tax investigation service. Plus, since we local to Bury, we can be your local tax advisors, ensuring a fast response every time you need us.
Failure to comply with any request from HMRC can result in a fine, and, of course, it will make them even more keen to investigate your business, so this is something that does need to be dealt with, and not something that can be ignored. We do understand how concerning an investigation from HMRC can be, which is why we can be there for you every step of the way, offering you advice and guidance, and ensuring that, whatever the investigators need, they can have. With us liaising between HMRC and yourself thanks to our tax investigation service, you can be more confident that all will go smoothly, and that the end will come much sooner.
Trying to run a business is difficult enough without the added strain that an HMRC tax investigation will bring. You have plenty of other things to think about, and adding this stressful addition to your business life is not something anyone wants, no matter how up to date their taxes might be. This is why Smart Solutions Taxation and Accounting should be your first call when you’re a Bury-based business; let us know how we can help, and your HMRC tax investigation will be a much smaller issue to deal with.