The best laid plans of mice and men… ...how does that saying end again? It’s got something to do with things not going to plan, right? Well, as a business owner or sole-trader, you probably know full well: when things don’t go to plan, getting yourself back on track can end up taking a lot … Continue reading How long will an HMRC tax investigation take?
And why it pays to face facts about your tax records. Time is money; it might be one of the oldest clichés in the book, but when it comes to your business, it’s a cliché for a reason. And if you’re facing a tax investigation or have just received an enquiry notice from HMRC, there … Continue reading How far back can an HMRC Tax Investigation go?
So you want to get down to the nitty-gritty of a tax investigation? Maybe you’re in the middle of an HMRC enquiry at the moment. Maybe you’ve just received your first notice of an upcoming investigation. Maybe you’ve been reading our previous posts and, as we always suggest, you’re getting yourself prepared. But one question … Continue reading What is Schedule 36? Understanding HMRC’s information powers during a tax investigation.
Tips to beating an HMRC tax investigation. Paperwork. Whether it’s a pristine colour-coded filing system or a cluttered bunch of notes on your desk - if you’re running a business, you’re going to need to keep your business records somewhere. Whether it’s supply costs, HR materials, or information about your finances, you’ll never know … Continue reading What tax records should you keep for your business?
So you’ve agreed to a meeting. Time to get out those records. And now, the time has come. Your tax investigation may just beginning or you may already be deep into the process. But either way, HMRC have insisted on a meeting. Maybe your accountant thinks it’ll be a good idea. Maybe you want a … Continue reading What happens at an HMRC meeting during a tax investigation?
Meetings. That dreaded word. How many meetings have you endured for the love of your business? Of course, at their best, meetings can be productive and exciting; there’s plans to be implemented and goals to be achieved. But sometimes? Meetings can be… well, a little tedious. And meetings with HMRC? They can be downright scary. … Continue reading What to do if HMRC ask for a meeting during a tax investigation?
Sometimes, it’s easy to forget some of life’s simple truths. The institutions we deal with on a daily basis, for example - banks, the council, even your internet provider? How easy is it to forget that, ultimately, they’re all run by people? People just like you. It’s the same with HMRC. We don’t think it’s … Continue reading 5 pieces of information you can withhold from HMRC during a tax investigation.