Forensic Accounting: For When Tax Gets Taxing

Forensic Accounting: For When Tax Gets TaxingThere aren’t many things people in the UK like to moan about more than the taxman (other than the weather, obviously). However, like it or not, we all accept that the taxman taking his cut of our hard-earned income is part of working life.

But tax is not just something we begrudgingly accept; it is also something that confuses or worries many people because it can be a complicated matter. That is why forensic accounting can often have such a prominent role to play in tax investigations.

Whether intentionally or not, accusations of tax evasion or fraud can be levelled at people or businesses from time to time – when they are, forensic accounting services can help handle the case in the best way to reach an acceptable settlement with Her Majesty’s Revenue & Customs (HMRC).

Anyone with experience of working with them will know that HMRC has a particular, methodical way in which it wishes to work. That is to say there are certain pieces of information it will want presented in a clear and coherent way. That might sound simple, but for individuals or businesses who are not confident when it comes to accounting, using experts such as Frenkels Forensics can help ensure HMRC gets what it needs, when it needs it and in the form it wants it.

‘Tax doesn’t have to be taxing’ is the tagline HMRC likes to use for people doing their tax returns. However, in some instances this is not the case – amidst the mass of numbers that must be taken into consideration there can be mistakes, which can point to serious claims of fraud.

By conducting a thorough investigation into the accounts, we can assess where the errors lie and go about correcting them so that the individual or company and HMRC are both satisfied.

For expert financial help for any tax issues contact Frenkels Forensics for an independent appraisal.

Alternatively, if you’re looking for advice in any aspect of forensic accountancy, then do get in touch via Twitter, Google+, LinkedIn or by visiting our website

By Vitek Frenkel – find me via Google+.

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