What You Need to Know About HMRC Tax Investigations
Many accountants assist their clients with legal tax avoidance processes, ensuring that their entities are as tax efficient as possible however tax evasion is illegal and can have strong consequences.
HMRC investigations often involve an enquiry into the financial circumstances of a UK individual, business or other entity. The launch of an investigation can be triggered by various events and can explore records of income, corporation ND capital gains tax, NIC, PAYE and VAT.
Investigations can commence due to human error being made on submissions. Common reasons that HMRC get in touch are to either perform a random check or to clarify a mistake or a misunderstanding.