HMRC Forensic Accountant
HMRC is clamping down on businesses suspected of tax avoidance or fraud in an attempt to reduce its considerable tax deficit. Receiving confirmation from HMRC that your tax affairs are being investigated can be a cause for concern, and it is essential to have the right team of experts by your side to deal with it. An HMRC forensic accountant plays a key role in this team, being the professional with the skills required to drill down on the numbers and ascertain the true financial position. Frenkels Forensics have a dedicated team of HMRC forensic accountants, all of whom have vast experience in ensuring clients facing HMRC investigations receive a fair settlement.
The Role Of A HMRC Forensic Accountant
Forensic accountants are highly skilled professionals, whose training and experience enable them to carry out a detailed analysis of vast amounts of information and data swiftly and accurately. Our accountants have inquisitive mindsets and use cutting edge techniques and technologies to identify information often missed by other professionals, including those working with HMRC. We think outside the box, consistently looking for information that isn’t there, as opposed to merely considering that which is presented to us.
Our HMRC forensic accountants regularly work with clients facing all types of HMRC investigations, from compliance checks to criminal investigations. Our work spans the entire range of tax matters, including the following:
• Assisting clients facing an apparently random HMRC investigation, for example because they operate in a sector identified by HMRC as being high-risk.
• Assisting clients when tax evasion or fraud is suspected.
• Assisting clients considering making a voluntary disclosure to HMRC in connection with one of its tax amnesties.
• Assisting clients in circumstances where they believe they may have mistakenly provided incorrect information to HMRC.
• Assisting clients to organise their tax affairs when they have made errors in their VAT accounting.
- How an HMRC Forensic Accountant can help
- The primary aim of an HMRC tax accountant in the context of many HMRC investigations is to ensure their client receives a fair, settlement and does not pay more tax than is necessary. Often, our work results in a reduction of the tax claimed by HMRC. We consider HMRC’s calculations in depth, cross referring to our client’s bank statements, financial records and any supporting documentation we identify as being relevant. After doing so, we can often prove that at least some of the income on which HMRC is claiming tax is, in fact, non-taxable, and after applying any available relief, the client’s tax liability is reduced, sometimes significantly.
- In cases involving suspected fraud, a client’s professional advisors’ main aim is to secure the most lenient penalty possible, and one that is proportionate to the activities. Tax fraud is a serious offence, carrying penalties including fines and imprisonment. An HMRC forensic accountant can assist in this exercise by analysing the relevant data and identifying the extent and nature of any fraudulent activity, asking the client for explanations wherever necessary. We must act impartially and with integrity, using our skills and expertise to develop a fair and accurate picture of the client’s financial practices.
- The experience of an HMRC forensic accountant makes them ideally placed to liaise with HMRC on your behalf, should you so wish. We understand how HMRC works, the likely format of your investigation and what the HMRC officers will expect to see. We will be on hand to explain any of our calculations to the officers, and ensure they understand the rationale behind our conclusions. We will ensure your matter is dealt with as quickly and cost-effectively as possible, to minimise the disruption to your commercial operations and allow you to concentrate your efforts on running your business.
- If your matter proceeds to the tax tribunal, we can act as expert witnesses if necessary, preparing the appropriate report and appearing at the hearing to explain and justify our findings. We have extensive experience acting as expert witnesses in all types of legal proceedings and are familiar with the processes and procedures of all forums, and with our duty to the Court.
- Prevention is always better than cure when it comes to HMRC matters, and our HMRC forensic accountants regularly assist clients with tax planning and clearance matters. Our expertise in this area includes specialist situations, such as those involving the Foreign Entertainers Unit, the tax office that deals with the tax affairs of non-resident entertainers and sportspeople. Our work is methodical and comprehensive, and gives our clients peace of mind that their tax affairs are accurate, up to date and in line with HMRC’s rules and regulations.
“Your report was a herculean task and put us in an incredibly strong position. Thank you ever so much for the work and advice you have provided . The report was clear and accessible and will not hesitate to recommend you all.”
“I am indebted to you for your contribution, and for explaining things in plain English such that even lawyers can understand the issues”
“It was a pleasure working with you on what was a rather difficult case”