Traditionally, VAT returns are the most common type of investigation although any area of tax where HMRC believes there may be a discrepancy can trigger an enquiry.
Most recently, we have become aware of a significant increase in investigations into Self-Employment Income Support Scheme (SEISS) grant overpayments.
Millions of self-employed workers have benefited from the scheme during the last year, with billions of pounds paid out to those in difficulty due to the pandemic.
However, HMRC is now taking action against those who have received an overpayment under a tough penalty regime against those perceived to have abused the financial support on offer.
Claimants who receive an overpayment of an SEISS grant could face a penalty of up to 100 per cent of the SEISS grant overpaid.
Those targeted by HMRC are unlikely to know they have over-claimed until they receive a notice from HMRC.
Tax investigation protection for peace of mind
Regardless of the reason, if you receive a notice from HMRC, it is important to act quickly. However, the cost of defending yourself by obtaining the necessary financial evidence can quickly add up.
We understand how stressful a tax investigation or enquiry can be which is why we offer a comprehensive tax enquiry service that is back by specialist cover – to meet the full cost of dealing with and defending your case.
Our Tax Investigation Fee Protection is a small price to pay for peace of mind.
To find out more, please contact us now.