Help with a HMRC Investigation or Inquiry

With the introduction of HMRC’s integrated computer system known as “HMRC Connect”, the tax authorities are now able piece together more than 100 billion pieces of taxpayer information received from a huge number of sources (including banks, credit card companies and the Land Registry) and spot undeclared and under-declared sources of income.

When HMRC are certain they’ve uncovered a source of underpaid tax, they will write to the taxpayer and raise the subject, usually inviting the taxpayer to use the “HM Revenue and Customs: disclosure service”.

Under this service, taxpayers will be required to declare all sources of under declared income or gains, calculate the tax, penalties and late payment interest payable and make an offer to HMRC of the aggregate amount in order to settle the matter.

At PMCA, we have supported many new clients who find themselves in this position, most frequently where they have not declared:

·         UK Property income (“buy-to-let” profits) to be disclosed under HMRC's "Let Property Campaign".

·         Capital gains (often on disposal of second homes or unquoted shares).

·         Foreign income. This needs to be disclosed under HMRC's "Worldwide Disclosure Facility"

·         Sufficient sole-trader profits (often overstating costs and obtaining excessive CIS repayments).

.         High Income Child Benefit charge and claw back.

·         Enough Company profits assessed under Corporation Tax.

 If you have received an inquiry from HMRC and need support in dealing with it, call us to find out how we can help you.

 

 We service clients in the Middlesex, South Buck and West London areas, including: Uxbridge, Hillingdon, Ickenham, Ruislip, Eastcote, Hayes, Harefield, Northwood, Cowley, West Drayton, Denham, Iver, Gerrards Cross Buckinghamshire ....and all surrounding districts.

 

We are advisors and consultants offering advice in all tax and accounting matters including: Business Tax, Personal Tax, Individual Taxes, "Self Assessment" tax returns, accounting, payroll, book keeping, bookkeeping, Management Consultancy, Corporation Tax, VAT, PAYE, NIC, CIS, IR35, CT600, Inheritance Tax, IHT, and others.