For more than 30 years, our accounting firm has had the pleasure to aid clients with a host of issues. As a result, we’re now the top business working in tax enquiries and investigations Harringay has. This is something countless individuals and businesses experience. With the knowledge and aid we provide, you will be ready the next time you have to deal with one.
A tax enquiry by HMRC is among the least pleasant things you can experience. It’s a stressful and worrying time. They can either be ‘aspect’ or ‘full’. In the latter, HMRC broadly inspects all the significant risks of error in the return. During the former, it falls short of a full enquiry into the entire return. Rather, it focuses on one or more elements of it that may be suspicious. When you experience these enquiries, it helps to know what to do. We have some tips to share that you will find useful.
Staying on top
Firstly, get on top and stay there. There are a lot of happier pastimes than putting up with an HMRC enquiry. This means it can be tempting to ignore the correspondence. Such action can prove counter-productive though. An HMRC officer might assume the delays are indicative of underlying issues. The result can be inaccurate assumptions about the return’s accuracy.
The best thing to do here is stay off the back foot. Respond to the correspondence within the time limit. If this isn’t possible, get in touch with the HMRC officer as soon as you can to explain everything. You can then set a new timeline to reply.
The meeting
Next, during the early stages, HMRC will often suggest a meeting. Officers like their meetings and have training in interview techniques. However, there isn’t an obligation for a taxpayer to go to a meeting during a routine enquiry. If a meeting is not desirable for some reason, you need to inform HMRC. Although, you must emphasise to them that you will give your full cooperation in correspondence.
As for where the meeting takes place, it should be a place where the taxpayer is more comfortable. The adviser’s office is a good example.
Get an agenda
Finally, before any meeting, you should ask the HMRC officer for a detailed agenda of topics they want to talk about. A taxpayer or their adviser coming face to face with a multitude of unexpected questions isn’t ideal. Preparation is essential for the meeting, and an agenda will help a great deal. Getting the facts will put the taxpayer more at ease too.
Ask us for help with tax enquiries and investigations in Harringay
At Brian G Lonis & Co, we offer high value, cost efficient financial solutions to each client. Our team understands the stresses that come with enquiries and investigations. So, we work hard to make things as easy as we can.
We can offer reliable, cost effective services where you only pay for what you need. It is one of the reasons why we are the top source of help with tax enquiries and investigations in Harringay. If you need support, let us know.