HMRC Investigations

In 1996 self-assessment was introduced and since then HMRC staff members have been trained to develop investigatory skills. Certain developments over the last year suggest that tax investigations are likely to continue to rise.

With HMRC signing information agreements in Europe they now have access to an increasingly wide pool of information and tax evaders will have difficulty hiding. HMRC have given opportunities for people and businesses to come forward about their tax affairs but, those who choose not to are likely to see investigations into their financial affairs.

Tax investigations are becoming increasingly inevitable but there are some things you can do to limit the problems:

• keep good financial records
• co-operate as penalties can vary depending on your co-operation
• seek advice
• take out insurance

Roger Hann
Practice Manager
023 8046 1200
roger.hann@hwb-accountants.com