First things first, stay calm! There is no need to panic in these situations as the team here at Coleman and Co can guide you through the whole process and be your shoulder to lean on when times get stressful. With our experience we can offer support through all investigations so that you are never left in the dark with the common procedures that take place. Below are some steps that we take you through if you find yourself opening the large brown envelope titled HMRC.
- Don’t destroy any documents or evidence
Although you may want to give up, burn it all and hide away from your troubles you should never destroy vital evidence. Tax is complicated, we all know that, but with our experience we know exactly what to do to get the best results possible for you. In cases where evidence has been destroyed, the HMRC are suspicious of you having something to hide. In order to fill in missing gaps, you may need multiple copies or documents such as bank statements etc so always be prepared to find these when required.
- Work together
We know that not everyone is tax savvy, so we follow simple step by step guides so that you are always on board with your finances and investigation. If you feel that the HMRC are making it difficult then you can call upon their tax inspectors to work together with you on a co-operative level to resolve the dispute easier.
- Make accurate assumptions
There is no use in making lavish promises and not delivering as this will only hinder your investigation rather than help. If you are unable to meet certain deadlines, then say so and explain your reasons why. If you were to miss a deadline without consulting the revenue you can face large fines and penalties which only makes your situation worse. Always be realistic with what you can pay back, (if you need to).
- Be one step ahead, always
With our help you can be one step ahead of HMRC making the whole process quicker and easier. If we think that they are going to ask certain questions about your tax situation we can answer these in your drafts before they are even asked. This in some ways impresses the HMRC as they can see you are making an effort that meets their requirements. This also comes under being prepared as doing this can make the process quicker and more in your favour as your image you are giving the revenue is that you do care about the investigation instead of waiting around for them.
- Finally, always be honest
Believe me, there is no need to lie to the HMRC, they know all and can find out everything about your taxes when they want to. If there is something wrong with your taxes, then make them aware before they make you aware. Once the investigation has begun we urge that you correspond with all requests when asked and explain your case in as much detail as possible.
To get your tax investigation dealt with by the professional call us on 028 9266 3599. With many years of experience you can count us to make the whole investigation process simple and straight forward so that the HMRC get the results they are looking for, and more importantly, so do you.