Tax Investigations
In the world of Self Assessment, the threat of a random tax investigation is the main method HM Revenue & Customs (HMRC) use to police the tax system. The system relies on tax payers filling in the forms each year with honesty and integrity. In a perfect world there would never be a need for investigations as each of us would be 100% honest with our declarations.
You have come to the right place if you are looking for a tax accountant referral.
This is not a perfect world and HMRC adopt the view that we, each and every one of us, is guilty of tax avoidance and needs to be investigated. Reality means, however, that they do not have the resources to investigate everyone so they adopt a policy of picking out those tax payers who step outside their industry norm, or those who have been reported by well meaning do-gooders, for a full investigation.
They do however, start every investigation on the premise the tax payer is guilty of under-declaring income and thus under-paying their taxes. This remains the only area of English law where you are deemed to be guilty unless you can prove yourself to be innocent.
This is where your agent, accountant, or tax specialist steps in and takes position as a buffer between you and HMRC. The more experienced your advisor is, the better chance you have of coming through the investigation without any excessive extra tax bills.
Don’t leave this important aspect of your financial affairs to chance. Lots of accountants are unqualified and not experienced in the intricacies of investigation work. To have the best possible outcome you need to have a qualified, experienced accountant working for you – tell your accountant you want a referral to a specialist tax accountant. It will ensure your present relationship with your accountant continues happily without the investigation coming between you.
Investigation work does not have to impinge on your relationship with your present accountant. I often work hand in hand with an existing accountant and we work together for your benefit. If you have professional fee insurance, this investigation work is usually free to you. The Federation of Small Business is the best place to get this from as membership includes lots of other benefits as well as the insurance cover – so join today!
For more information about why you should ensure you have professional fee insurance, read the post here.
If you would like me to help you in your HMRC investigation, please ring me on 0800 047 0731 NOW and let me get to work on your behalf.
~Ray
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