How a taxpayer answers HMRC questions, can have a huge impact on the outcome of an investigation. HMRC will ask a number of probing questions at a meeting. It’s imperative to know when NOT to answer a question and HOW to answer a question.
Clients and taxpayers may be nervous about handing over documents to HMRC. Will they explain everything, or will it just provoke even more questions?
HMRC have issued their figures on the amount of nudge letters they are sending to taxpayers and the criminal cases underway.
It is important for tax purposes to establish from the outset whether taxpayers are investing in property or trading in property as the tax treatment can vary significantly.