TAX INVESTIGATIONS

The powers of HM Revenue and Customs have increased significantly in recent years and they are investing significant resources into the investigation of owner-managed businesses and high net worth individuals. These investigations place taxpayers and their finances under great stress.

In the vast majority of cases tax investigations are concluded with the taxpayer's accountant negotiating a settlement on the client's behalf with the Tax Authorities. The importance of specialist knowledge and negotiating skills in determining the amount of the overall settlement should not be under estimated. Indeed, it is not unusual for the potential interest and penalties within a settlement initially proposed by the Tax Authorities to exceed the tax under-declared.

Edmonds & Co have significant experience in this specialist area of taxation. We are often referred work part way through an investigation when the taxpayer finally realises that their existing adviser does not possess the expertise that is essential if the final settlement is to be minimised.

The "extra tax cost" of using a non-specialist can be very significant ...do so at your peril!

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