Tax Disputes and Investigations
If you submit a tax return to HMRC then there is always a possibility that HMRC looks to enquire into an aspect of the return or the whole return itself. Such tax investigations can be costly and time consuming, potentially costing you thousands of pounds in accountancy fees even when there may ultimately be no issue with your tax affairs.
In addition to random enquiries, HMRC have also targeted specific trades and professions where they feel there is a likelihood of increasing their tax take.
Examples of such trades which HMRC have focussed on in the past include Cash Traders, Plumbers, Vets and Hospital Consultants.
RMT are aware that businesses do not like uncertainty or additional unexpected costs and as a result, we offer a fee protection service to all of our clients to help cover the unforeseen costs involved in such investigations or compliance visits.
RMT are specialists in dealing with a variety of Tax Disputes, Tax Investigations and Compliance Visits whether they are instigated by HMRC or when a client wishes to make a voluntary disclosure to them. In particular, RMT are able to:
- Work on a range of tax dispute cases for all of our clients;
- Assistance in reaching settlement under Code of Practice 8 and Code of Practice 9 investigations where historical tax issues need remedying;
- Reconstructing tax computations for up to the previous 20 years and producing in depth disclosure reports setting out the key issues under investigation;
- Working closely with key stakeholders such as the Directors of the Company, HM Revenue & Customs, and Lawyers to agree a way forward and obtain the best possible conclusion for our client;
- Assisting clients disclose and exit previous tax avoidance schemes including dealing with the more recently introduced Accelerated Payment Notices and Follower Notices and making appropriate representations to HMRC where required; and
- Calculating the potential additional tax due, interest and penalties and reviewing client’s behaviour to determine whether the issues and mistakes identified are innocent, careless or deliberate and helping to remedy these issues to minimise any potential future issues.
If you require assistance with any of the above services or would like to explore the benefits of working with our personal tax team, please contact us.