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Tax Enquiries

Anyone can be subject to a tax enquiry or investigation. In recent years, HMRC has been tasked with collecting more tax from enquiries and has recently launched a new initiative to examine small business records with a view to identifying mistakes and tax payment shortfalls. As a business owner, you may be targeted with an enquiry into historical VAT, PAYE, corporation tax and even personal tax records. The latest of these initiatives is the small business record keeping spot checks.

Fee protection insurance – a sound investment

Ask anyone who has faced an enquiry by HMRC and they will all extol the benefits of tax enquiry fee protection. For all too many, their experience will actually be based on hindsight; they will wish they had taken out protection sooner.

HMRC’s tough new stance – taxpayers beware

HMRC now has greater access to a wider range of financial information from the banks and the frequency with which third party information is used to support taxpayer enquiries has increased. In some cases, obtaining such data has prompted an amnesty for taxpayers who may have additional tax to declare, as was previously the case for offshore account holders, medical professionals, or, most recently, plumbers.

Overall, we believe HMRC has adopted a much more businesslike approach to running an enquiry; and charging a penalty at the end of the enquiry is now the norm. New legislation means more powers available to HMRC, giving them greater access to business records, general information, premises and assets to secure evidence.

Are you facing a tax enquiry?

If you are faced with a tax enquiry, whether this starts with a request for accounting records or a letter suggesting a site visit, you will appreciate that this can be an extremely stressful and time consuming experience.

Many people believe that HMRC take the view of “guilty until proven innocent”. It is therefore very important to understand your rights as a taxpayer, and to have access to the best possible professional advice to deal with this situation in an effective manner.

Today, the average cost of a full business enquiry for clients without tax enquiry insurance cover can be in excess of £6,000. This means that protecting your business from the impact of these fees, for an annual premium of as little as £175 is potentially a very sound investment.

Peace of mind from market leading tax enquiry fee protection specialists

RJP has many years’ experience helping clients deal with tax enquiries and representing clients during negotiations. In many instances, we have been referred to such clients through their own accountants who did not have the right level of expertise to deal with such situations.

Need help with a Tax Enquiry?


60 Day Deadline for CGT Returns and Tax Payments

If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.