HMRC investigations and enquiries into individuals and their businesses are stressful, time consuming and costly.
HMRC has publicly stated that they are under instruction to increase collection of unpaid taxes and have invested significant resources to achieve this aim.
While the press focuses on the tax strategies of larger multi-national corporations, HMRC has much wider targets and whatever the size or type of business or the amount of personal finances, it can raise enquiries to ensure tax compliance.
HMRC has the power to raise an investigation or enquiry for a number of reasons. It is therefore important to seek professional advice as quickly as possible to ensure that the matter is brought to a swift conclusion and a favourable outcome is obtained.