As a business owner, the words 'tax investigation' probably has your hair standing on end. But fret not. Some companies offer tax investigation advice that will help you should your business be chosen for an investigation. It always pays to have the best advice during this time. Tax investigation specialists can assist with responding to both informal and formal notices from the HMRC. There is no legal obligation for you to respond to informal notices. But you should know that not responding to the informal notice triggers a formal notice. Your tax investigation specialists will probably advise you to respond to the informal notice in order not to miss the opportunity to have an open dialogue with the HMRC. Noncompliance with a formal notice could rack up a considerable penalty. There are two types of compliance checks the HMRC can send you. Both of them involve the HMRC looking into your tax returns. Tax investigation specialists will help you sufficiently prepare and respond to both instances. They will help you comply with the formal investigation into your tax affairs.
If you receive a penalty notice from the HMRC, the
tax investigation specialists you approach can either help you deal with it or help you apply for an appeal. Several instances could lead to your business receiving a penalty notice. You could be penalised if your business fails to comply with an information request. If your company submits its tax returns late or inaccurate tax returns you could incur a penalty. Penalties can also be given for paying taxes late or failing to keep adequate records. This is why you need expert tax investigation specialists on your side. Not only that, but you need to ensure that your business complies with all the rules and regulations the HMRC sets. Discovery assessments occur when the HMRC believes there is an underassessment of tax. These Discovery assessments are usually issued annually around February and March.
Tax investigation specialists like Templeton Brook Witt will ensure your business is accurately prepared to deal with discovery assessments, should the HMRC come calling.
No matter how successful your business is, paying a massive amount at once will put a huge dent in your finances. One of the benefits of having Templeton Brook Witt giving you expert
tax investigation advice is that they can negotiate with the HMRC to allow you to pay off your debt over time. They can work with your business to set up a debt payment plan with the HMRC. Templeton Brook Witt's tax investigation specialists know what factors the HMRC considers while dealing with a TTP. They work out a reasonable payment plan and one that you can afford. Having to deal with a tax investigation alone is a near impossible experience. Seasoned professionals best handle these things. Templeton Brook Witt has all the knowledge and a great team of tax specialists to handle any requests from the HMRC expertly. Contact
Templeton Brook Witt today for a free, no-obligation consultation. Let us help you get through the stressful tax procedures with all your hair.
Your Trusted Advisors
Based in the landmark St. Mary Axe, Templeton Brook Witt provide specialist tax investigations, compliance advisory and employment dispute advice to private clients and corporates.
0207 889 1000
info@templetonbrookwitt.com
30 St. Mary Axe, The Gherkin
Level 28
London
EC3A 8BF
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