HMRC Continues Clampdown on the Self Employed

HMRC investigators use a range of techniques to identify individuals who are not declaring all of their income. The HMRC have access to a wide range of data on UK taxpayers including access to property & land registry records and will also review vehicle registration details. HMRC investigators have also been known to pose as mystery customers in order to assess a business and are also known to review Facebook accounts of targeted individuals.

Currently, HMRC are focusing on individuals who have failed to take advantage of the recent tax amnesty to declare their income. Increased attention is being placed on lawyers, plumbers, teachers and doctors through a review of their wealth in order to determine whether they are living within their means according to the income declared in their tax returns. Cash businesses are also being targeted with increased HMRC visits to market and other traders.

Belsize Accountancy specialise in working with small businesses to structure their financial affairs effectively. Feel free to contact us for a free quote if you require assistance with your businesses tax returns or computations.