When it comes to tax investigations it certainly does pay to have the best advice. If you have deliberately not paid the full amount of tax owed, or evaded it all together then you could be subject to an investigation by HMRC.
The objects of Code of Practice 8 and Code of Practice 9 is to claim back all of the tax that you owe the HMRC. This money is rightfully theirs and the government will do all it can to ensure that you pay it back.
Interest and penalties will also be taken into account also. So you could find yourself paying back a lot more money than you owed originally. Criminal proceedings may begin if you are being investigated for serious fraud. It is a very big accusation and one that you will want to ensure that you are fully advised on.
The HMRC advises that you contact a professional adviser. One that has a great deal of experience in dealing with such cases. It is not the time to scrimp and save on advice. Don’t opt for the cheapest option or someone who will do it for free. You will need to make sure that you are getting the best advice out there, in order to have the very best chance.
You also have the right to appeal against the accusations and claims brought against you. If this is something that you choose to do then we at Taylorcocks can represent you at your independent tribunal.
Remember, this is about getting your tax and financial affairs in order, not about hiding the truth.
Our role is to help you get the best possible outcome, not to help you hide further. Which is why we will encourage you to do the following:
By being honest with us and the HMRC you will stand a much better chance of putting these issues and claims to bed. There is no point in lying to the HMRC for they will only find out. And we would ask you to be as transparent as possible in order for us to help you as much as we can.
The HMRC will want to see as much documentation as possible. It may mean a few late nights but you may want to choose this time to get all your paperwork up together. Ensure that you have all your documentation in one place that is easily accessible. We can go through any forms that you may have to fill out and deal with any questions you might have regarding your tax investigation.
Be prepared for every eventuality. If you feel that you are being unfairly accused of things that you believe you have not done then now is the time to speak up. But, be prepared, the HMRC will do their very best to uncover and claim back any money that they feel you owe them. Just be as honest and as upfront as you possibly can and we will do the rest.