It’s very difficult to avoid a tax investigation by the HMRC, there is nowhere to hide. Even if everything is in order, whether you are a small soletrader or CEO of a multinational business, you could well be selected for a random check. The spotlight shines on everyone, no matter the business or size.
But, there are things which you can do to minimize the chances of being selected for a tax investigation. HMRC are more likely to want to talk to you if there are mistakes or omissions in your accounts, so maintaining accurate records and making sure your accountant is fully informed are key.
We have prepared an Active Update article: HMRC Investigations to help you understand how and why you may be selected for a tax investigation, and what to expect if you are.
Evans & Partners advise all our clients to take out Tax Investigation Insurance to cover themselves against the professional costs incurred in responding to an HMRC investigation.
If you would like to know more, or require help with an HMRC investigation please contact firstname.lastname@example.org or call 0117 9675215