Having someone in your corner when the proverbial hits the fan is always a good idea and at Atreus, we love to represent you when HMRC comes calling.

Obviously, we hope that never happens and by complying with all of your personal or business’s tax obligations, the chances of the tax authority putting the spotlight on you is slim to say the least. But it’s not a guarantee.

HMRC can demand to take a look at your accounts at any time, and it’s vital to keep your accounts carefully and consistently to ensure you have nothing to worry about.

It can also potentially escalate what might look like a simple compliance check to a full-scale investigation in the worst-case scenario, but you don’t have to deal with HMRC yourself or on your own.

Tax compliance checks

If you authorise us to act as your tax agent, HMRC will call us or write to us  to conduct any tax compliance checks, rather than bothering you directly. It makes sense for them to contact us as we will have all of your tax records to hand, which often results in a swift resolution.

The tax authority typically wants to check any taxes you pay, accounts and tax calculations, personal or company tax returns, VAT and PAYE records if you employ members of staff within your business. This is often done by visiting our office in Wimborne, certainly before the pandemic.

Should HMRC get in touch with you directly and request to either visit your home or business, or for you to visit them to discuss any of these records, we can advise and accompany you during that visit. We’ve got your back and usually reach an amicable resolution.

Tax investigations

If it’s not satisfied, the tax authority can escalate their compliance checks to a full-on tax investigation. This is usually an ‘aspect’ or ‘full’ enquiry, although it does have the power to carry out checks at random.

Aspect investigations tend to focus on a certain part of your accounts where HMRC suspects an error. If you handle your own tax affairs and perhaps forgot to include your savings income in your most recent tax return, come to us and we can resolve this quickly.

More serious or complex cases where the tax authority believes there to be a significant risk of an error can trigger a full investigation. In this instance, they will conduct a comprehensive review of your personal and business accounts.

Random probes are becoming increasingly common, as HMRC turns its attention towards the misuse of coronavirus support schemes, such as the furlough scheme and the self-employed income support scheme. This means that any business can be picked at random for investigation.

How can we help?

If you’re an Atreus client, you can sleep easy as we always handle your tax affairs with diligence to keep compliant with all of your tax obligations. If, however, you find yourself in somewhat of a predicament, call us on 01202 052276 or send us an email at info@atreusaccountants.co.uk.