HMRC Investigation Strategy

HMRC’s determination to pursue those who under pay or fail to pay the appropriate tax will inevitably be of concern to some, with the prospect of close scrutiny by HMRC to personal and business records and arrangements. Our in-depth experience of HMRC investigations and self-assessment tax investigations will allow you the best opportunity to defend your position and secure the most favourable terms possible when it comes to settling the investigation.

Tax investigation advice

The UK Government is investing millions of pounds in HMRC’s investigation activity and has set significant targets for additional tax revenue to be collected. To assist in the process, the UK Government strengthened HMRC’s powers to inspect and request information and documents about your personal financial affairs and business interests.

More worryingly for some, HMRC have said it intends to increase the number of criminal prosecutions as there is a view the behaviour of some taxpayers will only change when someone they know is sent to jail for not paying the right amount of tax.

For some, these changes will be of no concern, for they are paying the right amount of tax and they have nothing to hide if a tax inspector reviews all their personal and business records and asks lots of questions. For most individuals however, these changes in HMRC’s investigation strategy and approach will represent an unwelcome intrusion into their life.

For some taxpayers, these changes will be of great concern, not only to their financial wealth but to their reputation and potentially their liberty. Those individuals with no legitimate basis for not paying tax on some or all of their income and capital gains should expect their position to be revealed and are usually best advised to make a full and voluntary disclosure to HMRC.

If you would like to discuss an HMRC tax investigation or a tax investigation strategy, please get in touch.