Avoiding a tax inspection

An Inspector calls

The number of tax investigations is going up-and so is the use of risk assessment to identify which companies should be examined more closely. We asked the experts what you can do to lower your risk of an investigation.

 

Why me?

The way risk assessment works is company tax and VAT returns are run through a computer to be benchmarked against other companies in the same industry and against the performance of the economy as a whole

 

Surviving the audit

So what can you do if you are picked? And just what happens? Once you're in a dispute, however small, the main advice is to hire a professional tax advisor if you don't have one already

 

Red flags that will get an inspector's attention (and how not to wave them)

How to make sure it's not your business they pick on

 

Comply with capital gains tax

Capital gains tax can be a complex matter, this guide outlines exactly what is liable for taxation and what is exempt.

 

Claim capital allowance

This guide outlines all the details that should be taken into consideration when claiming capital allowance.

 

Comply with self assessment

This guide provides a step by step explanation of the procedure for fulfilling annual tax returns for the self-employed.

 

Claim research and development tax credits

This guide outlines the key elements in understanding tax credits as well as assessing how much a company is entitled to.

 

Claim your tax deductions and exemptions

Organising your finances so that you can apply for tax deductions and exemptions can be a complicated matter, read on to discover where the deductions are applicable and how to apply.

Meet your legal tax requirements

This guide explains the different taxes that various forms of businesses may be liable to pay, as well as how to make sure that these payments are made correctly.

 

Register for VAT

This guide details the processes involved in charging VAT on goods and claiming VAT back from HM Revenue & Customs, once registered.

 

Calculate employee wages and tax deductions

This guide provides an introduction to calculating NICs and the Pay As You Earn taxes for your employees.

 

Calculate your tax bill

This guide outlines exactly how to calculate your end of year tax as well as giving practical advice on deductible expenses.

 

Make a VAT return

This guide examines dealing with a VAT return.

 

Understand corporation tax

This guide explains the tax requirements of limited companies, stating exactly what is tax deductible.

 

Understand IR35

This guide explains in detail under which circumstances a self employed person is liable to pay IR35.

 

Understand income tax

This guide outlines the procedures that an employer must follow to ensure that all employees are paying the correct amount of income tax.

 

Comply with annual filing requirements

This guide explains which businesses need to complete annual filing as well as how to go about this.

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