Tax Advice

What can be done to mitigate the impact of an HMRC investigation?

02 Aug 2013

In these times of strained government finances, maximising tax receipts has become a key priority for the Chancellor.

As a result HMRC have been using a range of new tactics, ranging from spot checks to tax amnesties, to ensure that business are paying the right amount of tax.

HMRC inspections may target your VAT, PAYE, Corporation Tax or even self assessment calculations. They may even challenge the quality of your business records or your fiscal compliance as an employer.

Unfortunately, the costs of dealing with an investigation can be significant, both in terms of generating supporting documentation and if necessary appealing against an HMRC decision.

Fortunately there are two effective ways to mitigate the risk and impact of an inspection.

Chris Conway

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Managing Director, Accountant & Corporate Finance Specialist

0207 043 4000

About the author

Chris joined Accounts and Legal as Managing Director in November 2015. Chris’s primary role is ensuring the firm runs smoothly on a daily basis, supporting the growth of its entrepreneurial clients and delivering the firm’s own ambitious growth objectives. 

Having qualified as a Chartered Accountant (ICAEW) in general practice with a Top 20 firm in 2010, Chris quickly chose to specialise in corporate finance. During his 5 years Chris worked on over 70 transactions involving SME’s, from company valuations and restructures to substantial equity and debt fundraisings. He also advised on the sale and purchases of businesses, both to trade buyers and financial investors, providing advisory and due diligence services.

  

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