HM Revenue and Customs’ (HMRC) ongoing battle to close the tax gap – the amount of tax that should be paid and the amount it actually collects – shows no slowing down.
HMRC has just revealed that it raised an extra £23.9 billion in tax over the last year, as a result of stepping up activity to make sure everyone pays the taxes it considers they owe.
The crackdown on tax avoidance and evasion is likely to see more companies and individuals becoming subject to tax investigation, with Exchequer Secretary to the Treasury David Gauke warning on 27 May: “HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due.”
Resolving a case can take months – or even years – and lead to substantial costs, which could run into thousands of pounds, which is why early, expert advice in the event of a tax investigation is crucial.
At Robb & Co, we can provide expert advice to ensure that tax affairs are in order and that the right amount of tax is paid.
In the event of a tax investigation, we offer constructive advice designed to clarify the taxpayer’s position and identify their options, while working to achieve the best possible outcome, including mitigating final settlements.
For more information about Robb & Co’s tax investigation services, please contact us.