| WAMS Tax Ltd |
| Tax Enquiry & Investigation- The Crucial Stages |
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Stage 1 - The letter arrives - That dreaded buff coloured
envelope (and now they even send white ones to confuse
you) envelope lands on your carpet just as you are leaving
for an enjoyable weekend away. If you have an accountant
acting he/she will get details of the information the Inspector
wants. Otherwise your letter will be longer asking you for the
information and/or documents they need and putting donw a
time limit for their production..
The letter can be from a local office or one of the specialist
offices or teams and it can be an enquiry into one or two
Aspects of your return or a Full blown enquiry into all
matters in your return(s). Each type of enquiry needs it's own
response and I can handle these to your best advantage.
Stage 2- You respond - It is at this stage that Enquiries
and Investigations are either won or lost. How you handle it
sets the scene for the enquiry. Handle it wrong and you
could be in for a drawn out enquiry or worse an escalation to
formal powers being used.
If we can sit down and discuss matters we should be able to
see a way to
(a) giving HMRC the comfort they need to close the
enquiry
(b) managing the enquiry to resolve it to your best
advantage within the law
(c) casting an expert eye over your books and records
before HMRC's expert gets at them
You can rest assured that with my involvement
your stress levels should be minimised.
Stage 3- Managing the enquiry - Knowing just what
HMRC can and cannot do within it's statutory powers
enables me to protect your rights and interests in all
types of enquiries.
Even an open minded Inspector has to consider all the
possibilities. Put yourself in his/her position. What would you
be thinking if you found
(a) an amount of bank interest had been omitted from a
return or
(b) a sale hadn't gone through your books? or
(c) a personal expense had been claimed against profits.
All different possibilities might occur to the Inspector. This
can lead to drawn out enquiries and unwarranted invasions
of your privacy in an attempt to get to all the facts.
With early involvement in your enquiry and co-operation from
you I will be able to preempt such problems and
guide the enquiry to a satisfactory conclusion.
Stage 4- Agreeing the outcome - Given that some
enquiries can be randomly selected ( but see ) it is not
unknown for HMRC to have a "Nil" result.
This would be our aim - A "Nil" result (assuming you
have been forthright in our discussions and you have not
been intentionally understating your income).
If however profits have been understated then you will be
asked to sign important documents at some stage in the
enquiry and I can ensure that you are properly advised
on their completion and relevance.
Otherwise having hopefully been involved from the outset
my negotiation and presentation skills should
enable us to get the best result possible within the
law
Stage 5- Preparing for Settlement - (A wee bit late for
me being involved for the first time to get the best value
possible However even if I am only brought on board at this
late stage I am confident that from an appraisal of what has
gone before I should be able to save you my fee and more
otherwise I will tell you right up front.)
If it is agreed in Stage 4 that your income has been
understated I can address with you and give you the
benefit of my experience of the commercial realities of
settling with HMRC.
If the unpaid duties are large enough you will find yourself
being asked to pay not only the duties unpaid but interest on
those duties and a penalty which statutorily could be as
much as the duties again.
Since April 2010 the penalty can now be 200% of the
duties if the HMRC are of the opinion that you
intentionally evaded duties and wilfully tried to
conceal matters. You need a good advocate on your
side and I can help.
It is the practice of HMRC to accept a mitigated penalty in
any offer you want to make. I can give you the benefit of my
knowledge from over 30 years of considering other
Inspectors figures and submitting cases for the Board of
HMRC's approval to get you the best deal possible.
Properly armed with such information and with strong
negotiating skills enables us to offer an acceptable
amount taking into account the factors of disclosure,
cooperation, size and gravity.
I can also offer a review service to you (or your tax
adviser) in the unfortunate situation that things go
wrong with your enquiry at any stage before I am
involved. This review can be conducted for or with
the adviser and I will provide possible solutions
for your benefit.
I am also prepared to consider and advise on work
carried out by other advisers.
Contact me on 07751720507 or Send a Message
envelope (and now they even send white ones to confuse
you) envelope lands on your carpet just as you are leaving
for an enjoyable weekend away. If you have an accountant
acting he/she will get details of the information the Inspector
wants. Otherwise your letter will be longer asking you for the
information and/or documents they need and putting donw a
time limit for their production..
The letter can be from a local office or one of the specialist
offices or teams and it can be an enquiry into one or two
Aspects of your return or a Full blown enquiry into all
matters in your return(s). Each type of enquiry needs it's own
response and I can handle these to your best advantage.
Stage 2- You respond - It is at this stage that Enquiries
and Investigations are either won or lost. How you handle it
sets the scene for the enquiry. Handle it wrong and you
could be in for a drawn out enquiry or worse an escalation to
formal powers being used.
If we can sit down and discuss matters we should be able to
see a way to
(a) giving HMRC the comfort they need to close the
enquiry
(b) managing the enquiry to resolve it to your best
advantage within the law
(c) casting an expert eye over your books and records
before HMRC's expert gets at them
You can rest assured that with my involvement
your stress levels should be minimised.
Stage 3- Managing the enquiry - Knowing just what
HMRC can and cannot do within it's statutory powers
enables me to protect your rights and interests in all
types of enquiries.
Even an open minded Inspector has to consider all the
possibilities. Put yourself in his/her position. What would you
be thinking if you found
(a) an amount of bank interest had been omitted from a
return or
(b) a sale hadn't gone through your books? or
(c) a personal expense had been claimed against profits.
All different possibilities might occur to the Inspector. This
can lead to drawn out enquiries and unwarranted invasions
of your privacy in an attempt to get to all the facts.
With early involvement in your enquiry and co-operation from
you I will be able to preempt such problems and
guide the enquiry to a satisfactory conclusion.
Stage 4- Agreeing the outcome - Given that some
enquiries can be randomly selected ( but see ) it is not
unknown for HMRC to have a "Nil" result.
This would be our aim - A "Nil" result (assuming you
have been forthright in our discussions and you have not
been intentionally understating your income).
If however profits have been understated then you will be
asked to sign important documents at some stage in the
enquiry and I can ensure that you are properly advised
on their completion and relevance.
Otherwise having hopefully been involved from the outset
my negotiation and presentation skills should
enable us to get the best result possible within the
law
Stage 5- Preparing for Settlement - (A wee bit late for
me being involved for the first time to get the best value
possible However even if I am only brought on board at this
late stage I am confident that from an appraisal of what has
gone before I should be able to save you my fee and more
otherwise I will tell you right up front.)
If it is agreed in Stage 4 that your income has been
understated I can address with you and give you the
benefit of my experience of the commercial realities of
settling with HMRC.
If the unpaid duties are large enough you will find yourself
being asked to pay not only the duties unpaid but interest on
those duties and a penalty which statutorily could be as
much as the duties again.
Since April 2010 the penalty can now be 200% of the
duties if the HMRC are of the opinion that you
intentionally evaded duties and wilfully tried to
conceal matters. You need a good advocate on your
side and I can help.
It is the practice of HMRC to accept a mitigated penalty in
any offer you want to make. I can give you the benefit of my
knowledge from over 30 years of considering other
Inspectors figures and submitting cases for the Board of
HMRC's approval to get you the best deal possible.
Properly armed with such information and with strong
negotiating skills enables us to offer an acceptable
amount taking into account the factors of disclosure,
cooperation, size and gravity.
I can also offer a review service to you (or your tax
adviser) in the unfortunate situation that things go
wrong with your enquiry at any stage before I am
involved. This review can be conducted for or with
the adviser and I will provide possible solutions
for your benefit.
I am also prepared to consider and advise on work
carried out by other advisers.
Contact me on 07751720507 or Send a Message
| Bill Stevenson |
Mobile 07751720507 Land line 01224 658962 Email: bill@wamstaxltd.com |
| Let me take care of all the stress in your enquiry |
The comments on this site are personal views and solely those of the author who retains the
copyright. Each enquiry has its own dangers and opportunities that require full and detailed
considerations and advice. No responsibility can be taken for any actions that the reader
decides to take (or not take) after reading the text and articles unless you engage with the
company and Bill Stevenson on a proper fee paying client/tax adviser basis.
WAMS Tax Ltd - Bill Stevenson - 07751720507
copyright. Each enquiry has its own dangers and opportunities that require full and detailed
considerations and advice. No responsibility can be taken for any actions that the reader
decides to take (or not take) after reading the text and articles unless you engage with the
company and Bill Stevenson on a proper fee paying client/tax adviser basis.
WAMS Tax Ltd - Bill Stevenson - 07751720507