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HMRC have changed the way in which they will assess some taxpayers removing the need for these individuals to complete a Self Assessment Tax...Read more >
1 Nov 2017
Scottish Budget Proposals
On 14 December, the Scottish Budget will set out the Scottish Government’s financial and tax plans.Read more >
29 Oct 2017
Trusts Registration Service
HMRC have launched a new Trusts Registration Service (TRS), so that trustees can register their trust online and provide information on the ...Read more >
9 Oct 2017
Solihull Chamber News Column - 24th August 2017
The Chamber’s Quarterly Business Report (QBR) always highlights some interesting information on what is happening in the business worl...Read more >
24 Aug 2017
Solihull Chamber News Column - 10th august 2017
As Brexit becomes a reality, the Chamber of Commerce’s International Hub is stepping up its drive to encourage and help businesses to ...Read more >
10 Aug 2017
An update on Making Tax Digital
The Government have decided that the introduction of Making Tax Digital (MTD) will be delayed for businesses. We have summarised the la...Read more >
31 Jul 2017
Contact Prime Today
To discuss how to protect your finances, please contact us for a free initial meeting.Please Email Us >
Any client can be selected for enquiry by HMRC. It is estimated that there is a £40bn tax gap between what is due to HMRC and what they collect. As a result, HMRC has been tasked with reducing this deficit by £6bn over the next four years so all businesses are at risk of tax enquiry/investigation.
In fact, tax investigations are becoming increasingly more sector-targeted as GPs, barristers and plumbers have recently discovered.
Furthermore, a change in penalty calculations now reflects the level of intent of providing incorrect information. HMRC penalties range from 15% of potential lost revenue for failure to take reasonable care up to 100% for deliberate and understatement with concealment.
Prime has the expertise and experience to represent all clients finding themselves the subject of an enquiry. All clients are offered tax investigation insurance to cover the costs of such representation.
Call Prime Today - we're here to help
For peace of mind, contact Prime to discuss how to protect your finances and limit investigation costs.
Coventry - 024 7651 8555 or Solihull - 0121 711 2468