Tax Investigations
Tax investigations can often be intrusive, intimidating and costly in terms of tax and advisers’ fees. Our specialist team has an outstanding reputation for their negotiations with tax and customs authorities on behalf of buy to let landlords.
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Our specialist property tax advisers have an outstanding reputation for their hard but fair negotiations with tax and customs authorities on behalf of landlords
Smartlandlord.co.uk® Tax Investigations offers expert advice during intrusive and intimidating tax probes
- Free initial consultation - no obligations
- Run by former HM Revenue and Customs Special Complaince Tax Inspectors
- UK-wide, personal service
- Charged on a case-by-case basis based on time commitment
- High quality advice at a very competitive price
Smartlandlord.co.uk® Tax Investigations offers highly experienced property tax specialists to negotiate on your behalf with tax and customs authorities
- HM Revenue & Customs and the Contributions Agency have wide ranging powers to investigate your personal and business affairs.
- As a landlord running a buy to let portfolio, you could find yourself subject to an in-depth investigation into almost any aspect of your business and personal affairs, including:
- Income Tax
- Corporation Tax
- PAYE
- Value Added Tax
- National Insurance
- Benefits in Kind
- Capital Gains Tax
- Inheritance Tax
- The more serious cases are conducted by HM Revenue & Customs' Special Compliance Office (SCO). Smartlandlord® Tax Investigations is run by former HM Revenue and Customs Special Complaince Tax Inspectors.
- Smartlandlord® Tax Investigations provides support during serious fraud investigations, including Hansard procedures.
- Very few firms are capable of dealing effectively with Hansard investigations, with the majority of accountants being overawed by SCO investigators. Large accountancy firms will deal with Hansard cases, but can be very expensive - with costs sometimes exceeding the taxes being collected.
- Smartlandlord® Tax Investigations offers an effective and cost-effective solution.
- Smartlandlord®'s advisers offer a nationwide service and have successfully negotiated solutions for clients across the whole of the UK as well as those living abroad.
- Smartlandlord® Property Portfolio Insurance can save time and money with one policy to cover your entire property investment portfolio.
Smartlandlord® Tax services also include:
- Tax Advice - answers to your specific property tax queries by email
- Tax Helpline - specialist property tax advice for landlords by telephone
- Tax Planning - strategic tax advice to help you cut your property tax liability
- Tax Return Filing - qualified specialist help to check your tax return before it is filed
- Smartlandlord® offers this service through Cobham Murphy.
Our specialist team has an outstanding reputation for their negotiations with tax and customs authorities on behalf of buy to let landlords.
Next Steps:
- Tax investigations can be stressful and hence the sooner we get involved the better it is
- As soon as you contact us, we will arrange for a dedicated person to support you immediately and manage any urgent issues
- This service will be priced on a case-by-case basis
- Depending on the type of investigation and the amount of time it will require, we will keep you informed and contact you once your consent is needed
- Once we have your consent to the commercials, we will start supporting you with the investigation
Once you are ready, please:
Phone us or Email us to discuss your requirements, to get a quote and to buy this product:
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Q. What areas are most likely to be investigated by the tax authorities?
A. HM Revenue & Customs and the Contributions Agency have wide ranging powers to investigate your personal and business affairs. As a landlord running a buy to let portfolio, you could find yourself subject to an in-depth investigation into almost any aspect of your business and personal affairs, including:
- Income Tax
- Corporation Tax
- PAYE
- Value Added Tax
- National Insurance
- Benefits in Kind
- Capital Gains Tax
- Inheritance Tax
Q. Could my regular accountant not handle a tax investigation?
A. The vast majority of tax investigations carried out by tax and customs inspectors are dealt with by officers working in the local tax office network. Investigations are usually resolved through negotiation. If errors have been discovered, payments required will include the appropriate taxes and National Insurance Contributions, interest and penalties. It generally pays dividends to engage a specialist firm like Cobham Murphy through Smartlandlord® to assist your own accountant to achieve the most cost efficient settlement with the tax or VAT authorities.
Q. What is a Hansard investigation?
A. The more serious cases are conducted by HM Revenue & Customs' Special Compliance Office - known as SCO for short - who, amongst other investigations, deal with cases of serious fraud. Serious fraud investigations are either dealt with through the Criminal Justice system or under the Hansard procedure. A Hansard investigation usually starts with an invitation for you to attend a formal meeting at which the Hansard Extract will be read to you - an extract from the Hansard Records of proceedings in the House of Commons relating to the investigation of fraud. It is worth noting that the inspector cannot compel you to attend a meeting with him and you should seek our advice if your accountant tells you otherwise. When the Hansard extract has been read the SCO investigator will put to you five written questions, each capable of a 'yes' or 'no' answer. The answers to those questions will determine how the investigation will proceed. If there is an admission of wrongdoing the inspector will ask you to commission a specialist firm such as Cobham Murphy (through Smartlandlord®) to compile a report detailing your disclosures; which will form the basis of negotiating settlement of the investigation.
Q. What can I do to prevent a full Hansard investigation?
A. The key to all Hansard enquiries is the full disclosure. This means telling the investigating inspector about any taxable sources of income or capital gains that have not previously been disclosed and about any omissions or understatements in accounts or tax returns throughout your business life. The disclosure must include all sources of income, including partnerships, sole trades and limited companies, and cover all returns made to HM Revenue & Customs, not only personal, partnership and company returns but also PAYE and benefits-in-kind end of year forms.
Q. How can Smartlandlord® Tax Investigation Support help me?
A. Anyone subject to investigation under Hansard by SCO needs specialist representation, even if they are adamant that there are no disclosures to make. Very few firms are capable of dealing effectively with Hansard investigations, with the majority of accountants being overawed by SCO investigators. Large accountancy firms will deal with Hansard cases, but can be very expensive - with costs sometimes exceeding the taxes being collected.
Q. Do you cover the whole of the UK?
A. Smartlandlord®'s advisers offer a nationwide service and have successfully negotiated solutions for clients across the whole of the UK as well as those living abroad.
Dos and Don'ts
Do:
- Read every letter you receive from HMRC very carefully and take prompt action
- Get specialist advice immediately and respond quickly. Appropriate response is the first step of defence
- Keep a record of all advice and file notes of any meeting especially the ones directly relating to investigations
Don't:
- Get unduly worried by investigations. Many of these are routine activities by HMRC
- Depend on a general accountant to give you specialist advice
- Delay responding appropriately as non response can lead to expensive penalties sometimes even criminal charges
