We have been part of the accounting industry for over three decades. Today our team assists clients on a regular basis with all kinds of financial issues. For one thing we are the most knowledgeable experts working in tax enquiries and investigations Walthamstow has. We work to understand your needs and then focus on providing the most effective solution for them.
At first, HMRC tax enquiries can seem unnerving. However, you should not assume that the government thinks you have done something wrong. Some checks are routine or random. Saying this, it is still vital that you are aware of what an enquiry is precisely. When you know, you can fully prepare for them.
In the event HMRC does open up an enquiry into your company or personal finances, they are checking that your tax details are correct. Specifically, they are looking at what is on your tax form. What we want to do in this post is discuss the stages that take place during an enquiry.
How do enquiries begin?
Every case is going to be different. However, you can expect the same standard steps to appear during each one. One of the stages would be receiving a HMRC letter. To start with, check to see if the deadline to open an enquiry up has passed. Moreover, you will need to verify if the details HMRC is asking for are sensible.
Formal requests
Another stage would be a formal request. You will be given one if you fail to comply with the first request for details. Additionally, you can be penalised for missed deadlines. HMRC is going to ask you to confirm certain details from the information you provide.
Meeting
There is also potentially going to be a meeting. HMRC could ask for it to be face-to-face to speed the enquiry procedure up. This can also tell the government that you are willing to cooperate. Ensure that you receive an agenda beforehand though. You will be able to prepare your answers for the questions then.
With the meeting, stick to the agenda and clarify any concerns. If you forget something during the talks, send information to HMRC afterwards. Make sure you don’t give any false details either as you can face a penalty.
Talk to us about tax enquiries and investigations in Walthamstow
At Brian G Lonis & Co, we tailor all our services to better meet the needs of each client. We are also experienced enough that we have a deep understanding of all the elements of accounting. As a result, we can give you the most reliable guidance.
So, if you want to work with the best company specialising in tax enquiries and investigations Walthamstow has, contact us today. With our support you can avoid any stress you may feel in the situation.