HMRC Tax Investigation - What Is The Procedure?

HMRC has the power to investigate people suspected of tax evasion. They will ask questions about income, expenses, and assets. The investigation could result in fines, penalties, or even jail time.

The investigation may involve your business or personal affairs.

If HMRC suspects that you have not paid enough tax, they may contact you by letter or phone. You should respond within 14 days with any documents or records that support your position.

You will receive a letter from HMRC stating what they are investigating.

If HMRC decides that there is sufficient evidence to proceed with an investigation, they will send you a notice of assessment. This is when they start to collect information about your finances. They may also ask you to provide additional information.

If you don't respond within the set period, HMRC will issue a summons.

You must attend at the address specified in the summons. If you do not attend, HMRC will serve you with a warrant to arrest you. If you are arrested, you will be taken into custody until you appear before a court.

A summons means that HMRC will send a representative to your premises to collect documents and information.

If you receive a summons, you should contact HMRC immediately. They will provide you with further details about what to expect when attending an interview.

Who could help you during a tax investigation?

We recommend you seek financial advice and guidance throughout the process. Hiring modern and highly experienced business accountants could save you time, money, and stress. At Elena Meskhi & Co., we are experts in handling tax investigations. In fact, we have a 95% success rate in handling our clients' tax investigations.Contact us by clicking on the contact us button at the bottom of this article and we will get back to you shortly.