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Tax Investigations

Tax Investigations & Undisclosed Income

A tax investigation or tax “compliance check” can be stressful for anyone, whether your tax affairs are correct and complete or not. The complexity of tax rules and penalties can certainly be overwhelming! It is therefore essential that you seek experienced and knowledgeable support at this time.

Our understanding

Tax investigations are now more targeted than ever.  HMRC uses its data sources to identify taxpayers who may have issues with their tax affairs or mistakes or omissions from their returns. This data can be drawn from a variety of places including, employers, investment houses, banks, and the land registry amongst others.

Dealing with HMRC in the right way from the very start is key to protecting your rights and safeguarding your business.  By co-operating with and assisting HMRC, within the limits of what is reasonably required, you’ll be able to steer clear of penalties.

Here at Wisteria, we can help you do just that.

How we can help

Wisteria’s tax team has dealt with many tax enquiries. In the last year, we have dealt with issues relating to:

  • Property tax and Capital Gains Tax issues
  • Under declared business profits
  • Voluntarily alerting HMRC to tax irregularities
  • VAT
  • Residency and domicile issues
  • Share schemes
  • Valuations of assets
  • Entrepreneur’s relief
  • Challenges to deductible expenses.

Our wide experience in dealing with such issues means that we understand the process and expectations. We also know what HMRC expects and, if there are issues with your tax affairs, how to manage the process to minimise penalties.

Taking the right first step is a key part of minimising your potential penalties. Contact us for a confidential discussion about how we can help.

View our Tax Fee Protection Scheme Service Flyer.

Have a query around undisclosed income or subject to investigation?

Get in contact with us below and a member of the Wisteria team will be happy to give you a call back

nick tagg

Meet the expert

Nick’s first role in tax was over 15 years ago with the Inland Revenue. Nick qualified at a top 10 firm, Smith & Wiliamson, having spent his time there advising business leaders on complex tax planning projects as well as more routine compliance. As well as having a broad tax background, Nick has also been heavily involved with the firms Company Secretarial and Business Support Services.

Meet Nick

Why choose us

While working on your tax affairs, we seek out opportunities. We aim to keep you fully in the loop, discussing developments and new options with you, as part of regular meetings. By developing long-term relationships with clients, our tax return services work alongside the tax advice we provide. We want to give you peace of mind that you are in safe hands, your tax return is dealt with in good time, and each opportunity is identified and implemented.

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    Preparation of Self Assessment tax returns

    A self assessment tax return is the method by which taxpayers report their income and capital gains to HM Revenue and Customs. Wisteria’s team of qualified specialists can confirm whether it is necessary for you to complete a return and Wisteria provides an efficient and professional tax return completion service.

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    Income Tax and National Insurance Contributions (NIC) advice

    If your tax affairs are more complicated, you will need to register for self-assessment and submit a tax return. If you would like help getting set up to submit Self Assessment tax returns or if you require more information about our tax services for individuals, contact us today.

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    Inheritance tax planning and reviews

    Tax planning is completed either when you have decided what you want to achieve in the most tax efficient way, or where you wish to simply review your affairs. Wisteria’s tax specialists will review your position and advise on the most tax efficient way to structure your affairs generally or advice on any particular transaction.

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    Working with financial advisers to ensure you have an optimal tax and investment strategy

    It is important to work with an accountant who you can get on with and feel you can trust. When selecting an accountant, there are many factors to take into account and many possible options available to you. Wisteria’s financial advisers can provide you with valuable advice on how to maximise your money.