Professional Service For Tax Investigations London
A tax investigation can be a stressful process especially if you have never been through one or don’t have the advice of a professional to guide you through the tax investigation. A lot of businesses will have to go through a routine tax audit every now and again issued by HM Revenue & Customs.
In more serious cases when HMRC have a reason to suspect that your tax returns are inaccurate or hiding something, they will put you and your business through a tax investigation.
Royds Accountancy in Eltham can help businesses going through a tax investigation.
When do tax investigations occur?
A tax investigation is usually triggered by incorrect or suspicious tax returns. When a business submits their return and the information appears to be incorrect in some way or another, it will set off red flags and HMRC will ask for a compliance check in the form of an investigation.
A tax investigation may be triggered if the following applies to you:
- A small company that out of the blue makes a large claim for VAT
- A business with a large turnover declares a small amount of tax
- Your tax returns are continuously filled late
- HMRC gets a tip-off
- You work in an industry that regularly takes cash payments
- Increase in costs, large fall in income
- Your costs are above the average in your industry
- Inconsistencies between different returns
HMRC tax investigations can also be completely random. It can also occur when HMRC decide to target a specific industry or sector.
All types of businesses can be investigated. While many people believe that tax investigations are limited to investigating your income tax, HMRC can also investigate other aspects of taxation such as VAT, Construction Industry Scheme (CIS), corporation tax, insurance premium tax, capital gains tax, landfill tax and climate change levy.
Reliable Tax Investigation Service From A London Accountant
A professional can be an excellent source of direction for business owners going through a London tax investigation. An accountant in London can be helpful as they are familiar with the lengthy process and the penalties involved.
At Royds Accountancy, we have accountants who are skilled and competent. Our team of friendly, transparent accountants are experts in taxation services including help with tax investigations.
Our tax investigation service is highly professional and is done by qualified accountants. We don’t leave any room for error and are knowledgeable as well as experienced in these demanding situations.
Royds Accountancy Tax Investigation Specialists For Landlords
We are also specialists in helping landlords with our trustworthy London tax investigation services. Landlords are subject to HMRC tax investigations if they have failed to declare their rental earnings.
Because HMRC have been targeting the prevalent tax evasion epidemic on property lettings, they are warning landlords who have not been declaring their rental earning to pay up or face the costly penalties.
Our Royds Accountancy tax investigation service will help you through the process to make sure that any suspicions from HMRC are resolved and dealt with properly.
Our investigation service is available to businesses and landlords in London. Our office is located in Eltham, so we are happy to serve anyone in the local area. Get in touch now.