HM Revenue and Customs’ (HMRC) ongoing battle to close the tax gap – the amount of tax that should be paid and the amount it actually collects – shows no slowing down, increasing the likelihood of tax investigations.
It has just revealed that it raised an extra £23.9 billion in tax over the last year, as a result of stepping up activity to make sure everyone pays the taxes it considers they owe.
HMRC’s crackdown on tax avoidance and evasion is likely to see more companies and individuals becoming subject to tax investigation, with Exchequer Secretary to the Treasury David Gauke warning on 27 May: “HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due.”
Resolving a case can take months – or even years – and lead to substantial costs, which could run into thousands of pounds, which is why early, expert advice in the event of a tax investigation is crucial.
By working with the tax investigations team at Taxation-Investigation, taxpayers will have access to practical, expert help and advice, focused on supporting them throughout the process and achieving the best possible outcome.
Our experience means that we understand the complexities of the UK tax regime and compliance issues. We also understand the way that HMRC works and the processes and procedures it follows in dealing with disputes, investigations and enquiries.
For more information on our tax investigation services, please contact us.
