We are increasingly concerned at HM Revenue & Customs new aggressive approach to investigations meaning that more innocent taxpayers are likely to be investigated.
HMRC do not need a reason to open an enquiry although the majority of these are now as a result of intelligence received. HMRC have spent millions developing their Connect system which currently holds 12 billion pieces of data obtained from sources such as banks (both in the UK and abroad), credit agencies, Land Registry, DVLA, the internet, airlines and chip-and-pin merchants. In fact 83% of HMRC enquiries are as a consequence of information received by Connect: the information is not always correct or interpreted correctly.
At Pierce we do our best to minimise the risk of a client being on the receiving end of an enquiry which, once opened, can easily take 18 months or more to resolve with substantial costs being incurred in the process, in addition to the stress and worry an enquiry can cause. For this reason we strongly recommend clients join our tax investigation scheme which, for payment of a relatively modest fee, will cover the costs of our representing you in the event of a HMRC enquiry or investigation. In addition the scheme also allows us to handle or guide you through a HMRC PAYE or VAT compliance review.
Please click here to view our dedicated micro-site.
If you want to know more about the scheme, or would like to join, please ring either your usual contact at Pierce or Andrew Stephenson on 01254 688100.