HMRC are able to collect data both in the UK and overseas from multiple sources. They now have access to a surprisingly wide range of databases and as a result, many investigations will be opened in consequence.
The probability of an investigation of one form or another will increase. The onus will, in practice, inevitably be on the taxpayer to prove innocence contrary to the legal position. It will be very difficult to convince HMRC the data is wrong even though experience of it so far has suggested this will frequently be the case. A robust defence will be required. Increasingly draconian penalties will be sought by HMRC to settle cases in the absence of a suitable defence.
If you, your business or your trust are targeted, it is very important that you have an experienced advisor by your side to fight your corner. If you are chosen for a tax investigation, the financial and personal costs of a protracted case can be significant and we understand what a stressful and worrying time a tax investigation can be for you.
TWP have an experienced team of chartered tax advisors who will work to resolve your tax investigation, tax enquiry or tax dispute with HMRC. We deal with tax enquiries raised into individuals, partnerships, corporate and trusts so whether you are an individual, a sole trader, partner in a partnership/LLP, have your own company or are a trustee or executor of an estate, we can assist you as our team has the experience and the expertise to deal with these matters.
You can rest assured that we will do everything we can to defend your position, shelter you from the pressure and to get you the minimum possible tax penalty and settlement.
As your Accountant we want to protect you where possible which is why we offer a Tax Investigation Service which covers you against the cost of professional fees associated with a tax investigation. If you would be interested in learning more about the insurance, please do get in touch.