HMRC has been conducting more and more high tax investigations of late. This means even that businesses big an small may come under their microscope at any. The Uk goverments finance are shot ti pieces following the covid-19 pandemic and HMRC have been charged to collect revenues. It is that simple.
While it's a good thing to pay taxes on time, missing deadlines is a flag that can lead to tax enquiries by authorities, causing stress and anxiety for many. Therefore, you need expert tax investigation services London to resolve disputes, enquires, and conflicts.
In this article, we share with you the important details about tax investigation services, how they can benefit your business, and what it covers.
What is a tax investigation service?
Tax investigation services London aim to protect individuals and businesses when they have an open HMRC enquiry. Who can be investigated? Any business (limited or unincorporated), individual and partnerships.
Investigations can be random or intelligence led. They are time-consuming and require opening up tax returns and supporting numbers going back up to 20 years! This can happen even if you have submitted your returns accurately and timely. The investigation may even take several months even if it's for smaller companies. However, our experts take care of everything and even communicate with HMRC on your behalf.
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Benefits of Tax Investigation Services London
The major benefit of tax investigation services in London is you have an expert that will represent you. A professional tax accountant can handle this with relative ease.
Our experts also ensure that their clients don't accept arbitrary tax demands. We will go through and scrutinize HMRC letters, workings and correspondence. We make sure that you are not bullied into a settlement.
What does tax investigation protection cover?
Cover for HMRC investigation through a professional tax investigation insurance policy gives you some cover and protects you (to some extent) from the professional fees incurred arising from aspect and full enquiries, IR35 status checks, VAT/CIS/PAYE compliance visits.
A full enquiry is most likely to be highly costly due to time taken to go through extensive examination of records and books that generally support entries on tax returns. On the other hand, aspect enquiries are specific and may relate to particular entries where one needs certain clarifications. For instance, there can be a more detailed investigation into whether specific claims for some expenses were done accurately for tax purposes.
Cost of tax investigation services London
The cost of tax investigation services depends on the complexity and nature of the problem. We charge an up-front fee to review/assess your case. We will then either offer you a fixed fee proposal or bill you for hours of time dealing with queries.
Get tax investigation service from Lancing Cotswold Accountants and tax advisers
Lancing Cotswold has professional accountants and tax advisors that act for many businesses and individuals. We have a successful record dealing with HMRC and are confident that we can get the best result for you. We offer a practical solution and take a common-sense approach. We believe that clients should make full and complete disclosures to get the best terms from HMRC and will actively encourage this. We help businesses across various sectors with any sort of tax-related investigations. Need our services? Just get in touch with us straight away to discuss your tax investigation needs.
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