Tax Investigation Consultancy Service

From 2011 , HMRC will visit 50,000 small and medium size businesses to check that the business records which are being kept are adequate for the purpose of preparing annual accounts for that business . The Inspector who checks the records will classify the records : green ( acceptable ) , amber ( improvement needed ) or red ( unacceptable ) . One concern is that a red classification will be used to identify cases for in depth investigation . The other concern is that the Inspector may go past checking the records by asking detailed questions about the business and the owner's private finances . This would be moving into the area of tax enquiry and goes beyond a records check . This why ,if you are notified that HMRC intend to check your business records , that you need an experienced tax advisor present to make sure that the Inspector does not exceed the remit . TICS can ensure that this does not happen . This is why , if you are notified that your business records are to be checked , that you need a qualified tax advisor to be present when the check takes place to ensure that the Inspector does not exceed his remit .

HMRC announced that they intend to target the medical and dental professions . They will use the information at their disposal to investigate those who they suspect have not declared their full income . A Tax Health Plan has been set up so that those who declare by 31 march 2010 an intention to make a voluntary disclosure have until 30 June 2010 to do so . They will then be able to put their tax affairs in order simply and on the best terms available which includes restricting the penalty to 10% of any additional tax payable . After that date , HMRC will carry out targeted investigations aimed at medical and dental professionals who have not come forward and substantial penalties up to a maximum 100% or even criminal prosecutions could follow for those with undeclared tax liabilities . I have extensive experience in dealing with the tax affairs of doctors and dentists and I will provide the professional and confidential service you will need to take full advantage of the Tax Health Plan .

HMRC extend the NDO deadline

HMRC Offshore Disclosure Initiative