Tax Investigations
In recent years we have seen an unprecedented growth in tax investigations. This is because of new legislation concerning money laundering, a drive by the Treasury to increase tax investigations, and the merger of the Inland Revenue, HM Customs and Excise Departments to become HM Revenue & Customs (HMRC).
Since the merger there has been a drive to modernise how customers comply with their tax obligations and focus on tax non-compliance. This has further contributed to the rise in tax investigations, and changes to the way tax investigations are handled.
According to the Times newspaper tax inspectors are being offered financial incentives to "increase the amount of unpaid tax that they recover by a quarter over the next year." The article also stated:
“A former tax inspector, who did not wish to be named, told The Times that pressure to bring in more money inevitably would lead to inspectors seeking out more companies and individuals for investigation.”
Therefore the likelihood that you or your business will be investigated by HM Revenue & Customs is stronger today than ever before.
Syedain & Co has deep expertise in tax strategy and experience of tax investigations. Our firm has two former tax inspectors on its tax investigations team.
We offer our clients an Enquiry and Dispute Fee Protection Service. For a fixed annual fee the service will ensure that your interests are protected in the event of a HM Revenue & Customs (HMRC) enquiry or dispute.
The service will cover up to £75,000 of fees (a lower limit will apply to some elements of cover) in the event of an enquiry or dispute which includes:
- Income Tax Self Assessment enquiries
- Corporation Tax Self Assessment enquiries
- VAT disputes
- PAYE disputes
- NIC disputes
- IR35 and other status disputes arising from HMRC enquiries
Our service includes appeals and tribunals giving you the comfort that you have adequate resources to fully defend unfair tax demands.
There are some exclusions that include:
- Enquires or disputes which have commenced prior to inclusion under the service
- Enquiries resulting from tax returns which are submitted late
- Where you do not keep prime records
- Matters where fraudulent evasion of tax is involved
- Some tax avoidance schemes
Private Wealth Management: Tax & Trust ServicesWe liase with the Inland Revenue on your behalf, agree tax liabilities and advise you when payments are due
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