HMRC are targeting an additional tax yield of £26.3 billion through compliance activity with much wider powers to access data and commence enquiries, the risk of an HMRC enquiry has never been so high. HMRC use a strategic risking tool called Connect, which cross matches over 1 billion items of data for trends, indicators, benchmarks and behaviours. If, or when, you receive an enquiry we strongly advise you to seek immediate professional advice from your accountant.
You can protect your business against such costs, much the same as other potential risk protection such as motor or contents insurance. If your accountant has not offered your business protection, why not contact Taxwise to find out more. email@example.com
0844 892 2776 www.taxwise-online.com