Are You a Self Employed & Worrying About HMRC Investigation?

Are You a Self Employed & Worrying About HMRC Investigation?
HMRC investigation could be a nightmare for most of the self employed persons in the UK. It’s your
responsibility to submit tax return to HMRC every year before the deadline. There are several factors
that can trigger HMRC to investigate a self employed person. Below are few FAQs that can help you
to get the overall ideas about self employed tax investigation done by HMRC.
How could I know once HMRC is investigating me?
In most of the cases, you’ll not be notified by HMRC soon after it’ll be investigating your affairs. Once
HMRC will decide to inspect your case formally, you might be receiving a letter from one of its
department asking you to provide more evidence.
What happens if HMRC investigates you?
If in any case HMRC conducts a tax investigation and accomplish there was thoughtful misconduct
on the part of a taxpayer, then such types of cases could be considered as a criminal offence. If
something like this happens with you, then you might have to pay a penalty.
What triggers an HMRC investigation?
Submitting your tax return with incorrect data is the main reason for triggering HMRC for an
investigation. It’s always better to check your tax returns done with an expert accountant before you
submit to HMRC.
How long does HMRC take to investigate?
Tax investigations process often include HMRC asking for specific verifications and information,
which once submitted takes a few times to process and scrutinise. HMRC generally provides 1month
timeframe for the businesses to reply.
How do you tell if you are being investigated?
Police could execute a search warrant at the person’s office or residence. Getting a search warrant
from police could be an indication that you’re being investigated by HMRC.

Can you go to jail for tax evasion the UK?
The maximum penalty for tax evasion in the UK can even result in jail. Evasion of income tax can
result in 6 months in prison or a fine up to £5,000, with a maximum sentence of seven years or a
limitless fine.
Are you looking for any professional assistance regarding self-employed tax investigation?
Contact DNS Accountants for quality service at affordable price.