HMRC have two broad responsibilities for tax: to inform taxpayers about the tax they have to pay (or provide them with enough information so they can self-assess), and to collect tax from those who refuse to pay the amounts due under the law.
As part of their ‘collection’ remit HMRC have launched four new taskforce teams to target specific industry sectors for tax enquiries in these regions:
If you operate in these sectors and geographical areas, there is potential for an HMRC visit. In general the HMRC inspectors will make an appointment, and at that stage we may be able to persuade the inspector that your tax affairs are fully declared and all liabilities are paid. If that doesn’t work, we would suggest it is a good idea that we attend any meeting with the HMRC inspectors to make sure you don’t give any careless answers.
If you have not got cover in place to fund the professional fees that would be incurred in any of these visits (or indeed any other inspections or enquiries) please ask us about this.
At Glover Stanbury, all of our services are designed to add significant value to your business and personal wealth. read more