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How HMRC opens and ends tax enquiries

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Brian G Lonis & Co has over three decades of experience in the accounting industry. People consider us to be the best establishment working in tax enquiries and investigations Stoke Newington has. We aid clients by offering them solutions that are effective as well as cost efficient.

If you have never had experience of a tax enquiry before, it is good to have some practical information at your disposal. As professionals in this area, we have no problem offering advice about it.

Opening an enquiry

Tax enquiries and investigations Stoke NewingtonTo begin with, we will discuss when HMRC can open an enquiry and perform a check. They can only open one once you send a tax return in. Let’s say you didn’t make changes to your return and got it in on time. Broadly, HMRC would have 12 months to open an enquiry. This is from the day you file your return.

If you think they are outside the time limit where they might open an enquiry, don’t hesitate to challenge HMRC. Checks can only occur prior to someone lodging a return. As a result, HMRC needs to examine up to date records and not those used on an already-lodged return.

Schedule of adjustments

We will continue by talking about the end of the enquiry. HMRC could send you a proposed schedule of adjustments. If you are wondering whether you must agree to this, the answer is no. In most cases however, the schedule shall include alterations that have each been agreed.

If you don’t agree, HMRC can provide an assessment that uses their figures. Then, you will need to appeal against said assessment to the First-tier tribunal. If you do agree, HMRC shall supply you with a contract settle agreement.

Speak to us for more advice

At Brian G Lonis & Co, we have a vast amount of experience in handling HMRC’s investigations. Yours might be a major enquiry or something a bit simpler. Whatever the case, we will be there to help.

If you would like to work with us, please get in touch. The leading business excelling in tax enquiries and investigations Stoke Newington has won’t let you down. In fact, we will make the process as smooth as possible for you.