Unfortunately disputes with the tax man, (HMRC), will most likely come to us all at some point in our business and personal lives. Whether we are sole traders, partners, shareholders or directors (or possible even none of the above) to believe that we can somehow just avoid HMRC and their ever more pressing nature for chasing and fighting with individuals and businesses over various tax matters is let’s say ‘hopeful’ to say the least.
What we need is to prepare for these events and to run our businesses as if we actually expect these situations to appear in the future.
One way to prepare is to make sure you have accurate record keeping processes in place, businesses must keep records of their financial transactions for a period of at least six years, but the truth is HMRC can go back as far as they like when carrying out investigations so it is important to always to feel confident in your own records at all times.
Another way to prepare for this is to make sure you have experienced professionals in your corner for when these situations inevitably occur. It is important to be able to put your trust in people who have an elegant and at the same time hard hitting edge to dealing with these cases and always with your best interests at the forefront of their thoughts and actions.
At Gilmour & Company we have been dealing with HMRC for many years whether it be helping a joiner sort out a simple CIS tax discrepancy query or representing clients in more complex areas such as cases which rely on disputing the possible difference in perceptions on tax treatment and cases which elicit a greater knowledge of law and specific governmental legislation.
Give us a call and arrange a free of charge meeting with us to see if we can be of service to you.