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Search results: 7 article(s) found in topic: Enquiries/investigations - keyword: Assessments

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HMRC challenges business losses

A Tribunal recently ruled on a dispute between HMRC and a taxpayer over the losses shown in his accounts. What are the useful lessons any business can learn from the outcome? More...


How do HMRC’s powers of discovery work?

There are strict time limits which prevent HMRC starting enquiries into your tax returns. However, the law gives it another bite of the cherry through the “discovery rules”. How can you defend yourself against these? More...


How HMRC will try to cook your books

Following an investigation, HMRC used trumped up figures to issue tax bills worth ten times what they should have been. It then told the business owners it was up to them to prove it wrong. Does HMRC really have the power to do this? More...


Taxman told that human error isn’t negligence!

The decision in a recent tribunal hearing makes painful reading for the Taxman. The judge tore his case to shreds. The judgment also pinpointed flaws in the Taxman’s general approach to investigations; what were they? More...


Investigation settlement agreements

If you settle a tax investigation by a contract agreement, the Taxman will often not bother to amend your self-assessment liability. But as that means your official tax bill hasn’t increased, will you escape a penalty? More...


The “just in case I win” tax bill

The Taxman has been issuing tax assessments to husband and wife companies. Why has he done this? And what should you do if you’ve received (or do receive) something similar? More...


No degree in business economics

One way the Taxman handles enquiries is to try and reconstruct how well your business should have done. A pointless exercise you may think. However, when he presents these calculations during an enquiry, what should you do? More...
Last updated: 01.04.2020

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