HMRC enquiries set to rise?

Date posted: 9th Jan 2023

At the Autumn Statement, HMRC were given a further £79m to continue to tackle tax avoidance and evasion. HMRC believe that this will raise a further £725m in additional tax.

We believe that HMRC will therefore open a significant number of tax enquiries in 2023, compared to prior years. Even if you have nothing additional to declare, HMRC enquiries can be stressful and can take significant time to conclude.

HMRC are known to be pursuing:

  1. Individuals with more than one property ownership registered at HM Land Registry.
  2. Individuals with “person of significant control status” at Companies House.
  3. Individuals that own cryptocurrency.
  4. Individuals that have not declared P11D benefits in kind on their tax returns.
  5. Individuals with foreign income and gains.
  6. Companies claiming R&D tax relief.
  7. UK companies that own high value UK properties.
  8. Offshore companies that own UK properties.

In addition to the stress and hassle of a HMRC enquiry, there are also professional costs to consider, if you ask a tax adviser, such as ourselves, to deal with such an enquiry. That is one area in which we can help as we offer a market leading service that will cover the costs of our fees of defending taxpayers from HMRC. Sadly, it doesn’t cover any additional tax that may be discovered – we get asked that question a lot!

If you have any queries regarding a HMRC enquiry or investigation, please give us a call.


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