Many people struggle with organising their finances. This is true for both individuals and businesses. Tax is a subject that often comes up for us. Luckily, we are the number one firm helping with tax enquiries and investigations London has. We can offer you practical solutions to your issues as well as ongoing support.
Taxpayers from all over the country worry at the very mention of a tax investigation. However, you shouldn’t have to spend your time worrying. To help make things easier, we’re going to reveal some of the golden rules for getting through it.
Transparency
Start by not assuming that HMRC is ignorant of anything. Investigators working at HMRC have considerable resources at their disposal. They aren’t afraid to use them or ask questions. Some say that careless talk costs lives, but don’t take this literally. Informing a previous flatmate that you paid for a house in cash won’t kill you. Nevertheless, it might cost you the opportunity to obtain a beneficial deal with the HMRC if they begin investigating.
Preparation is essential
Make sure you’re sufficiently prepared for any meetings too. It’s no good you attempting to dodge HMRC’s questions when you haven’t prepared for them. The investigator possesses statutory powers. They can and will use them to force you into providing the answers they’re after. Your failure to prepare is something they’ll see as a lack of co-operation.
Provide evidence
This final rule is incredibly vital; don’t attempt to destroy evidence. It typically does more harm than good. If you don’t have the required documents, HMRC will assume that you’re trying to hide something.
At Brian G Lonis, it’s our job to assist you in understanding the tax ramifications of your actions. By working closely with you during this time, we can ensure that you only pay the minimum amount of tax. If you are facing tax enquiries and investigations London has no better team to rely on than us.
If there’s anything we can do for you, please give us a call.