Tax investigation penalties can range up to 100% on normal investigations and up to 150-200% of the culpable tax, this is the tax that HMRC says is payable as a result of their investigation.
There are several factors that influence the HMRC tax penalty you could be charged.
The main factor that can influence penalties is an experienced negotiator, one who is fully aware of HMRC procedures and knows exactly how to deal with an investigation into your affairs.
The KinsellaTax team comprises of ex-Inland Revenue staff and ex-Customs and Excise staff who are fully experienced in dealing with HMRC penalties and negotiations.
If you are under tax investigation and want to reduce your penalties then follow these 5 easy steps…
Step 2 – Come and meet with your personal tax investigation expert who will discuss the best way forward. You need to bring as much paperwork with you so we have the whole picture as to what your case is about.
You will need to sign an HMRC authority form called a 64-8. This is your permission for HMRC to discuss your case and liaise with us.
Step 3 – We will contact HMRC on your behalf to find out why they think you owe tax. This normally takes around 21 days and we will call you back as soon as we hear anything and send you copies of any correspondence with HMRC so you are up to speed.
Step 4 – Once we have a full breakdown of why HMRC think you owe additional tax we can put our arguments to HMRC. We will agree the tax liabilities due and negotiate fair penalties; these penalties depend on your co-operation through a an investigation. KinsellaTax will always co-operate fully with HMRC, giving you lower penalties!
Step 5 – Once a fair settlement has been agreed you will pay HMRC the tax due (along with interest and penalties) and go on to enjoy your life without the hassle of an HMRC tax investigation hanging over your shoulders any more.
We have helped ALL of our clients get reduced penalties. None of our clients have ever had the maximum HMRC tax penalties imposed on them of 100%, the normal charge, and where it involves overseas monies it can be 150-200%.
Sarah from London, a KinsellaTax client, said:
“Just to say a massive thank you to you, and to KinsellaTax for your professional approach and expertise, but more importantly for your ongoing support and reassurance through what has been a long and stressful process.
I felt out of my depth for most of the investigation but your excellent communication throughout has made sure I have known what was happening at every step of the process.
I am certain that the positive outcome of this case was due to your knowledge, experience and expert handling of this particular case, and for that I’m utterly grateful.”