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Has Your Competitor Reported You on the HMRC Hotline?
Newsletter issue - January 07.
HMRC has reported that calls to the Tax Evasion Hotline have rocketed to 75,000 over a three-month period. Apparently, as well as ex-spouses there are now many business rivals reporting others who are trying to gain an unfair advantage.
HMRC clearly believes the hotline is a success and is getting used more all the time as more people become aware of it. It believes that is is the right thing for businesses to be shopping competitors who are not playing by the rules. There is a danger of course that it will also be used by competitors to maliciously report others and give rise to unnecessary enquiries.
It is therefore becoming even more important to be properly represented should you fall under enquiry and to take all other precautions in the first place to minimise the risk of enquiry. If there are no other risk factors, it is likely that an anonymous phone call to the hotline may go no further but if you have other risk factors such as unusual variations on your tax return that have not been explained, the combination may result in an enquiry. Avoidance of tax enquiries is often about knowing what the risks are and properly managing those risks to ensure HMRC do not wrongly suspect you of something.
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services
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