HMRC close a complex ongoing tax investigation without adjustments
This case came to us from another firm of accountants in London. It involved our client being under investigation for undeclared capital gains and rental income for a number of years. The client’s previous accountant and the client had previously written to the tax inspector without taking specialist advice. This had made matters even worse and the case was more complex than it needed to have been. Having taken on the case, we carried out an extensive investigation into the facts and background that lead to our client being involved in the investigation. We found that our client did not have beneficial interest in the assets and therefore had been wrongly put under investigation. Initially, our suggestion was not accepted by HMRC inspectors and after prolonged discussions and supporting evidence, the inspector accepted our technical position and closed the investigation without making any adjustments after almost two years. We are grateful to the HMRC inspector for taking a broader and more pragmatic view of the situation and accepting our position. This was a great success and relief for our client and their family after prolonged period of excessive stress. Please click here to HMRC’s letter closing the enquiry without any adjustments.
