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Navigating the intricacies of an HMRC tax enquiry can often be a stressful and confusing experience. At our firm, we understand the complexities and implications of such investigations and are here to support and guide you every step of the way. With our team’s in-depth expertise and hands-on experience, we aim to facilitate a smooth process and the most favourable outcome for your case.
What are HMRC Tax Enquiries?
An HMRC tax enquiry is an investigation conducted by HM Revenue and Customs into an individual or a company’s tax affairs. This can range from a simple review of a specific aspect of your tax return to a full examination of all your personal and business tax affairs. These enquiries can be random, but they are often triggered by inconsistencies or discrepancies in your tax records. All types of taxes can be subjected to a review, such as income tax, capital gains tax, inheritance tax, corporation tax, or VAT. Therefore, it’s crucial to understand the potential implications, your rights and obligations during an enquiry.
Our Services
We offer a comprehensive range of services to help you navigate the course of an HMRC tax enquiry. These include:
Initial Consultation
Our process begins with a comprehensive consultation. During this meeting, we will gain a detailed understanding of your unique circumstances and the specifics of your case. We will discuss what an HMRC tax enquiry entails, its implications, and answer any questions you may have. Based on this, we will strategise the best way forward for your case.
HMRC Liaison and Representation
As part of our services, we act as your representative during the enquiry. We will manage all communication with HMRC, provide explanations, submit required documents, and ensure that your rights are protected throughout the process. Our experience and familiarity with HMRC’s procedures enable us to effectively manage your case and mitigate any potential issues that may arise.
Assessment and Review
We conduct a detailed review of your tax records to identify any areas of concern that may have triggered the enquiry. This allows us to develop a robust understanding of your tax affairs and provide you with expert advice on potential implications and ways to rectify any identified issues.
Negotiation and Settlement
Once the enquiry is underway, it may involve negotiations with HMRC regarding the tax due and any potential penalties. This stage can be complex and requires a thorough understanding of tax laws and negotiation skills. We will work diligently to negotiate a settlement that fairly represents your tax situation, with a focus on minimising potential penalties.
Frequently Asked HMRC Tax Enquiry Questions
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What triggers an HMRC tax enquiry?
An HMRC tax enquiry can be triggered by various factors, such as inconsistencies or discrepancies in your tax returns, drastic changes in income or expenses, late filings, or tax returns that significantly differ from industry norms. Sometimes, HMRC may also conduct random checks.
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What can I expect during an HMRC tax enquiry?
During a tax enquiry, HMRC will thoroughly review your tax affairs. This may involve asking for additional information or documents related to your tax returns. They may focus on a specific aspect of your return (aspect enquiry) or look into your full tax return (full enquiry). An enquiry can take several months, and during this period, we will liaise with HMRC on your behalf to answer their queries and provide required information.
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What should I do if I am faced with a tax enquiry?
If you find yourself the subject of a tax enquiry, it’s important not to panic. You should seek professional help as soon as possible. As tax specialists, we can help you understand the process, represent you in all dealings with HMRC, assist in preparing your responses, and work towards a satisfactory resolution of the enquiry. Early professional intervention can often prevent unnecessary complications and help resolve the enquiry more quickly and efficiently.
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Titanic Suites, 55-59 Adelaide Street, Belfast, Northern Ireland, BT2 8FE
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