{"id":3230,"date":"2025-01-15T10:58:44","date_gmt":"2025-01-15T10:58:44","guid":{"rendered":"https:\/\/www.robbtax.co.uk\/blog\/?p=3230"},"modified":"2025-01-15T10:58:56","modified_gmt":"2025-01-15T10:58:56","slug":"is-your-business-prepared-for-increased-hmrc-scrutiny","status":"publish","type":"post","link":"https:\/\/www.robbtax.co.uk\/blog\/is-your-business-prepared-for-increased-hmrc-scrutiny\/","title":{"rendered":"Is your business prepared for increased HMRC scrutiny?"},"content":{"rendered":"

Recent figures show that HM Revenue & Customs (HMRC) recovered \u00a345.7 billion in tax probes in 2024, a \u00a310 billion increase from the previous year.\u00a0<\/span>\u00a0<\/span><\/p>\n

<\/p>\n

With 5,000 more compliance officers set to join HMRC over the next five years, businesses can expect more audits, investigations, and VAT compliance checks.<\/span>\u00a0<\/span><\/p>\n

VAT is under the microscope, with an estimated \u00a310.1 billion in unpaid VAT recorded in the last tax year alone \u2013 a 20 per cent rise from 2023.\u00a0<\/span>\u00a0<\/span><\/p>\n

HMRC attributes much of this to legal interpretation and boundary pushing by businesses, and it is making clear moves to close the tax gap, which is fast approaching \u00a340 billion.<\/span>\u00a0<\/span><\/p>\n

Should businesses be concerned by a more vigilant HMRC?<\/span><\/b>\u00a0<\/span><\/h3>\n

HMRC is actively increasing its workforce to target VAT errors, tax underpayments, and aggressive tax planning.\u00a0<\/span>\u00a0<\/span><\/p>\n

If your business has taken a risky approach to VAT mitigation, now is the time to review and reassess.<\/span>\u00a0<\/span><\/p>\n

Large businesses are being challenged more frequently on VAT, with 72 per cent of unpaid VAT linked to legal interpretations.\u00a0<\/span>\u00a0<\/span><\/p>\n

Only five companies proactively disclosed their VAT positions to HMRC last year, meaning many others could face disputes and investigations.<\/span>\u00a0<\/span><\/p>\n

Businesses found to be non-compliant could face penalties and interest charges, as well as reputational damage.\u00a0<\/span>\u00a0<\/span><\/p>\n

No company wants to be caught up in an HMRC investigation that could have been avoided.<\/span>\u00a0<\/span><\/p>\n

How can businesses prepare?<\/span><\/b>\u00a0<\/span><\/h3>\n

If your business has relied on aggressive tax interpretations, ensure they are defensible and compliant with current HMRC guidance.<\/span>\u00a0<\/span><\/p>\n

HMRC is increasingly requesting detailed documentation during compliance checks. Keeping thorough, well-organised tax records will help prevent issues and defend your position in case of an audit.<\/span>\u00a0<\/span><\/p>\n

If you are unsure about a particular tax treatment, proactive disclosure to HMRC may help mitigate risks and potential penalties.<\/span>\u00a0<\/span><\/p>\n

The message from HMRC is that businesses should expect greater scrutiny, more investigations, and tougher enforcement.\u00a0<\/span>\u00a0<\/span><\/p>\n

Get ahead of potential tax issues now by reviewing compliance measures and ensuring that your VAT practices are sound.<\/span>\u00a0<\/span><\/p>\n

Get in touch with our tax specialists today to ensure your business is prepared for HMRC’s increasing focus on compliance.<\/span><\/b>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Recent figures show that HM Revenue & Customs (HMRC) recovered \u00a345.7 billion in tax probes in 2024, a \u00a310 billion increase from the previous year.\u00a0\u00a0<\/p>\n","protected":false},"author":1,"featured_media":3233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,89],"tags":[],"yoast_head":"\nIs your business prepared for increased HMRC scrutiny? - Accountants in Sutton Coldfield<\/title>\n<meta name=\"description\" content=\"Robb & Co is an independent firm of chartered accountants and specialist tax advisors based in Sutton Coldfield, West Midlands.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.robbtax.co.uk\/blog\/is-your-business-prepared-for-increased-hmrc-scrutiny\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is your business prepared for increased HMRC scrutiny?\" \/>\n<meta property=\"og:description\" content=\"Recent figures show that HM Revenue & Customs (HMRC) recovered \u00a345.7 billion in tax probes in 2024, a \u00a310 billion increase from the previous year.\u00a0\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.robbtax.co.uk\/blog\/is-your-business-prepared-for-increased-hmrc-scrutiny\/\" \/>\n<meta property=\"og:site_name\" content=\"Accountants in Sutton Coldfield\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-15T10:58:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-15T10:58:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.robbtax.co.uk\/blog\/wp-content\/uploads\/2025\/01\/shutterstock_2112328292-1024x683.jpg\" \/>\n<meta name=\"author\" content=\"Robb & Co Chartered Accountants in Sutton Coldfield\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Is your business prepared for increased HMRC scrutiny?\" \/>\n<meta name=\"twitter:description\" content=\"Recent figures show that HM Revenue & Customs (HMRC) recovered \u00a345.7 billion in tax probes in 2024, a \u00a310 billion increase from the previous year.\u00a0\u00a0\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Robb & Co Chartered Accountants in Sutton Coldfield\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.robbtax.co.uk\/blog\/is-your-business-prepared-for-increased-hmrc-scrutiny\/\",\"url\":\"https:\/\/www.robbtax.co.uk\/blog\/is-your-business-prepared-for-increased-hmrc-scrutiny\/\",\"name\":\"Is your business prepared for increased HMRC scrutiny? 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