Corporation Tax enquiries and Income Tax Compliance Checks will usually be carried out by HM Revenue & Customs’ Local Compliance Offices. The tax inspector will issue an Enquiry Notice and HMRC Code of Practice. If your business gets a Notice of Enquiry or a Compliance Check leaflet you may need specialist help.
Only 3% of Tax Enquiries are “random”. The rest are selected for a full enquiry because the tax inspector suspects that tax has been understated (i.e. the taxman thinks you are fiddling). A small number of business Tax Enquiries are opened under the HMRC Code of Practice 9 (HMRC Investigations where we suspect tax fraud) by either the Local Compliance Fraud units or the elite Specialist Investigations teams. If your company receives a COP 9 then you should seek expert help immediately.
Business Tax enquiries frequently spin out to include intrusive and in-depth tax investigations into both the business and private affairs of the proprietors or directors. The taxman will be looking for additional Tax, NIC, VAT, PAYE, and S445 tax (on overdrawn director’s loan accounts) and income tax and NIC from the proprietors: plus interest and penalties.
A business tax enquiry can be very worrying: distracting you from running your business, and can be very costly; not only in tax, interest and penalties, but also in lost business. It can put a toll on personal health and relationships. Running a business is hard enough without having to deal with the taxman too. Companies, partnerships and sole traders can face many types of tax inspections: a Corporation Tax Enquiry, an Income Tax Investigation, a Compliance Check, PAYE audit, VAT inspection, NIC inspection.
If you get a Tax Enquiry Notice you, or your accountant, may need specialist help.
How will Lynam Tax Investigation Experts help me?
Lynam Tax Enquiry Specialists have the training, knowledge, skills and 67 years of deep experience to manage your business Tax Enquiry, to reduce the stress and get the optimum solution for you and the business. We will work closely with you, and usually your accountant as well.
To find out how we can help you and for a free, discreet, no obligation discussion call Paul Lynam today on: 0845 643 9997.
Lynam Tax Enquiry Experts HELP ME?
- Offshore Bank Disclosures
- Contractual Disclosure Facility/ COP9
- Appeals / Tribunal Hearings
- Tax Amnesty
- Fraud Investigation Service
- Rental Income Tax Enquiry
- Business Tax Enquiry
We specialise in managing all Tax Enquiry, Tax Disclosures & Tax Disputes with HMRC.
We will help you throughout the Tax Investigation or Disclosure and save you money, so you can concentrate on running your business and enjoying your private life.
For a helpful, sympathetic, confidential and no obligation discussion: