Cardiff, UK - Tax Investigations and Tax Enquiries

Anyone who has faced an HMRC tax investigation will tell you that it was one of the most stressful times in their life, even if they believe they have not done anything wrong.

Whilst HMRC has a responsibility to investigate the tax affairs of companies in the UK, it is unfortunately a rather stressful time for business owners and company directors. There are a few different types of HMRC tax investigations, and they have historically investigated companies that have submitted incorrect, incomplete or inconsistent business records, however, now also investigate businesses at random; this means that any business, limited company or sole trader can be investigated at any point.

If your business is subjected to a full tax investigation, you will need the assistance of tax investigation experts, as they will know how HMRC works, will be able to offer specialist advice, and help ensure that the investigation is as swift as possible. At Hayvenhursts Chartered Accountants in Cardiff, we have a specialist tax team that are on hand to help when you receive any tax investigation letters, and can help you get through your business’ tax investigation, talking to you through the enquiry process and letting you know what to expect. We also ensure that HMRC keeps to their own internal guidelines during the investigation and don’t over step the mark.

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Full enquries are thorough and complex investigations into your business’ tax affairs, and can be triggered by tax fraud, tax evasion or other tax issues such as non-compliance.

As most cases of tax non-compliance are due to administrative errors, inaccurate tax returns or the delayed filing of returns, they are considered civil investigations. There are various penalties HMRC can seek to impose following an enquiry for undeclared income, tax return inaccuracies or failure to maintain correct records. As well as having to pay any tax that you owe, they can also seek penalties up to an amount equal to the tax, essentially doubling your tax bill, along with interest on any late payments.

In the instances that HMRC suspect your business of more serious fraud occurrences, such as corruption, money laundering or persistent tax evasion, then they can hand your case over to the Fraud Investigation Service, who can instigate a criminal investigation and result in legal issues for you and your business.

At Hayvenhursts, our expert tax investigation service can aid in your tax investigation by offering professional advice that will both streamline your investigation and help minimise any penalties that may be imposed on your business. If you’ve had notice of a tax investigation for your business, or need help submitting information to HMRC, then get in touch with our tax accountants by calling 02920 777 756 or contacting us online here today.