Tax Investigations

Getting a letter from HMRC is always concerning, but no more so than when that letter states that they have opened an investigation into your personal or business finances.

For those that have either received confirmation they are going to be investigated, or those who wish to understand how best to act in order to avoid being investigated this page should provide the answers you need.

So let’s start with who can get investigated by HMRC.

Who can be investigated?

Put simply, anyone can be investigated by HMRC whether as an individual or business entity. This means that every person is potentially liable to be investigated over their finances and tax obligations.

In recent times, we’ve seen HMRC increase their focus and intensity on tax investigations. This means a greater effort to manage compliance of people and businesses against the HMRC rules and regulations. This aggressive approach to tax investigations has led to concern increasing about being investigated and the need for support and guidance increasing too.

How to avoid getting investigated

Whilst it is impossible to 100% avoid getting investigated by HMRC, there are some fundamental steps that people can take to help minimise the chances of it happening. The first step to take is to ensure your accounts are as compliant and accurate as possible.

The best way to do this is to employ an expert accountant, like ours at Accountants Glasgow. With many years of experience and a significant understanding of the taxation rules, choosing an expert means you can trust that your final set of accounts complies with HMRC’s rules.

Should you not choose an accountancy firm to help you, then utilising accountancy software is a smart option to help you keep track of all incomings, outgoings etc.

Remember – HMRC can and will complete random investigations throughout the year and there is no way to avoid this. As a result, maintain effective accountants and ensure compliance just in case!

How Accountants Glasgow can help

If you feel that a professional accountant is something you wish to use, then there are some clear reasons why choosing Accountants Glasgow is the right choice:

  • Each member of our team has a wealth of experience and expertise, as well as the key qualifications needed to provide the highest level of accountancy and tax investigation advice.
  • We work with individuals, SMEs and large corporations, supporting all aspects of accountancy. No matter your individual requirements, you can trust us to help you maximise compliance and efficiency.
  • We utilise the latest software and stay up-to-date on all changes to tax rules and requirements so that you maintain compliance throughout each tax year.