Wanting to sell your business? Beware of the taxman!

You have worked all your life to build up a successful business and now its time to cash it all in and sell up.  You have found a buyer and they are willing to pay the full asking price, no quibbles.  So why should you beware of the taxman?  It’s not as if you haveContinue reading “Wanting to sell your business? Beware of the taxman!”

HMRC issue 177,000 “nudge letters” in order to tax offshore income or gains

According to City AM, HMRC continue to pursue non compliant UK taxpayers by issuing nudge letters.  As previously covered,  HMRC’s use of nudge letters is a cost efficient way of recouping tax for the Exchequer without the need to launch a tax investigation into a taxpayer’s past tax compliance.  But beware, there are risks forContinue reading “HMRC issue 177,000 “nudge letters” in order to tax offshore income or gains”

Is now the time to push for a Settlement?

January is a funny month.  The festive celebrations have been and gone.  A lot of taxpayers turn to filing their Self Assessment Tax Return by the end of the month.  Others are simply looking backwards and forwards and thinking how are they going to fair in 2022.  So why is now possibly a good timeContinue reading “Is now the time to push for a Settlement?”

What will HMRC be sending you for Christmas this year?

For many taxpayers, a brown envelope from HMRC will not be well received at any time of the year.  Odds on it will contain bad news.  It may be the start of an investigation.  It may be a “nudge letter” or a “Check on tax position“.  It almost certainly won’t be a Christmas card!

Are you resolving the issue with HMRC or just kicking the can down the road?

For some, kicking the can into the long grass might be even more preferable.  Either way, when the time actually comes to resolving the matter, it will almost certainly be more expensive.  And perhaps all you have had in between times is depression and sleepless nights. Are you resolving matters?