Tax planning vs tax avoidance? Know the difference

Aside from ever more complex regulations, there’s continued confusion among taxpayers as to what constitutes acceptable tax planning and what constitutes tax avoidance or evasion. Paying the legal minimum by taking advantage of HMRC approved tax relief opportunities and entering into convoluted, artificial arrangements in order to benefit from ‘loop holes’ are two very different matters.

Tax Enquiry Protection Insurance

If you wish to protect yourself or your business from the potential costs of a tax enquiry, we can also provide tax enquiry protection insurance. By covering the cost of professional fees, this helps to keep expenditure related to a tax enquiry or investigation to an absolute minimum.

What are HMRC’s new extended powers?

If you have entered into aggressive tax avoidance schemes, or have failed to take tax compliance seriously, be aware that HMRC have further increased the volume of their investigations and are taking full advantage of their considerable power to collect as much tax as possible. As a taxpayer, you may be targeted with an enquiry into historical VAT, PAYE, corporation tax and personal tax.

RJP can provide expert tax enquiry advice and assistance with handling all aspects of a tax enquiry. This includes representing your interests with HMRC and managing all negotiations. In the majority of cases, our support will mean you can avoid a full tax investigation, but in the event your enquiry goes to tribunal, we’ll be there to provide guidance and advice at every stage. We’ll also help you to negotiate the most favourable outcomes possible if a penalty is enforced by HMRC.

The best way to tell if we’re a good fit for your needs is to see for yourself.