Is the British tax Authority HMRC Looking into Your Finances?
Is the British tax Authority HMRC Looking into Your Finances? You could feel uneasy at the thought of a tax enquiry. If you have been keeping meticulous records, an HMRC audit of your business shouldn't provide too much of a challenge. While it's seldom easy, following this guidance might lessen the severity of a potentially terrifying encounter and make it more of a hassle. A tax inquiry is defined as follows. When HMRC (Her Majesty's Revenue and Customs) decides to investigate your business, it is doing so to ensure that it is paying the appropriate amount of taxes both now and in the past. Just because you're being asked to participate in a legal process doesn't make you a criminal. If you have rigorous accounting procedures in place and are working with a competent accountant, a tax investigation shouldn't be too time-consuming or difficult. What should I do if I suspect that HMRC is conducting an investigation into my activities? A brown envelope addresse...