O'Reilly logo

Small Business Tax Planning: All you need to know from start-up to retirement by Russell Cockburn

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

5. HMRC Tax Investigations – Compliance Checks

Introduction

A tax investigation by HMRC can be stressful and expensive for a business. HMRC has the right to enquire into all tax returns and it also has the right to carry out compliance checks on tax affairs and other aspects of a business even when a return has not recently been submitted. The tax laws now in force give HMRC very significant powers of inspection and review, and the ability to ask detailed questions about tax returns, tax calculations and other documents used for the purposes of taxation.

It is important to understand that a business must cooperate fully with the HMRC when they ask questions about tax affairs. Apart from relevance and reasonableness there are very few practical ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required