For many business owners, just hearing the words “HMRC investigation” can be enough to cause anxiety. The reality, however, is that investigations aren’t random, and they are rarely about businesses deliberately doing something wrong. Instead, HMRC is usually responding to specific red flags. With the right knowledge and preparation, most businesses can avoid ever finding themselves in the spotlight.
We recently conducted a strategy session with a client who was feeling overwhelmed, anxious, and uncertain about his financial situation. He already had substantial liabilities from previous self-assessments, which were under HMRC payment plans.
Although he had also arranged a payment plan for his VAT, he had fallen behind on the last two quarters’ VAT payments. On top of that, he faced an impending £30,000 corporation tax bill, with no clear idea of how to manage his finances.
Book a meeting with an experienced member of staff, at a time that suits you.
For many business owners, just hearing the words “HMRC investigation” can be enough to cause anxiety. The reality, however, is that investigations aren’t random, and they are rarely about…
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If you need a helping hand with your business or personal tax, our accountants in Bidford-on-Avon are happy to help. To reach out to us with a question, or to book a free consultation, please complete and our enquiry webform.
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