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How long does a tax investigation take?

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A tax investigation by HMRC can leave you unsure on what is going to happen. Many people worry about how time consuming the process will be and how it will interrupt business. As experts for tax enquiries and investigations Stoke Newington can call on us for help. You will then have more information about timeframes for the process rather than asking yourself ‘how long does a tax investigation take’.

Getting Started

You will first get a letter from HMRC about the investigation. It will include details of the area of your tax return that they want to look at and whether they wish to do a full investigation. The enquiry typically starts within 12 months of the tax return due date. If you missed the deadline then it might be up to 12 months after you filed the return.

This type of investigation can go on for months while investigators collect information and evidence. The case might also uncover other areas of concern. They will then want to investigate these alongside the original reason for the investigation. An example of this could be HMRC taking a look at items declared as tax deductible. This might result in a bigger investigation probing the corporation tax paid by a business.

The Investigation

The time frame of an investigation depends on various factors. This can include:

  • The amount of information to look through
  • Area of taxation
  • The size of the business and turnover rate

Often, HMRC will ask for specific evidence and information. Once submitted it will take time to process. HMRC will often include a timeframe for when your business needs to reply. This tends to be 30 days.

Finishing Up

When there has been a final decision made in regards to the investigation, you should receive a notification. This could detail how much you need to pay and the payment timeframe. You will also have 30 days to appeal the decision if you want to.

As well as assisting with tax enquiries and investigations Stoke Newington can depend on us for advice. Brian G Lonis & Co can help with other information alongside how long does a tax investigation take. All you need to do is contact us to learn about our premier services and great customer care.