HMRC Tax Enquiry Case Study
The Client
We were approached by a client who owned a business but had not submitted tax returns.
The Challenge
Preparing Business accounts and Tax returns for multiple years, calculating underpaid tax and filing Voluntary disclosure with HMRC.
Our Approach
Obtain historic accounting records and reconstruct the Business accounts .
Apply to HMRC to register a Voluntary Disclosure.
Explain the implications to the client and negotiate a settlement with HMRC ensuring maximum co-operation and reduction of penalties.
The Results
We prepared and filed all the old tax returns and agreed a tax settlement with reduced penalties for voluntary disclosure and co-operation. We are now providing further tax advice relating to operating as a Sole Trader.
