Bricks are nothing without mortar, ensure your clients’ procedures cement their business compliance.
Risk of HMRC investigation or compliance check?
All businesses are potentially at risk of HMRC investigation or compliance check at some time. For construction businesses however, where there is generally a high proportion of self employed subcontractors, the risk is greater.
Construction business also have additional compliance obligations associated with the Construction Industry Scheme (CIS), which provide a higher risk again in relation to potential penalty assessments for non compliance.
For these reasons, construction businesses are a particular target when it comes to HMRC investigations and penalty assessments. Making it all the more important you are aware of your clients obligation, so that you can effectively advise them in this area.
Taking specialist advice now could significantly reduce your clients’ risk of exposure should they be faced with an HMRC investigation.
We have a wealth of experience assisting accountants with CIS queries, advising clients on proactive mitigation and defending HMRC challenges from enquiry through to tribunal representation.
If you have any queries or concerns relating to the construction industry, or would like a quote for our services for you or a client, please do not hesitate to contact us.
Not an Accountant?
Does the CIS apply to your business? Gross payment status issues. Find out more about CIS for your business.
Do your clients have written contracts in place with their subcontractor? There are risks associated with any engagement. Whether they are engaging subcontractors directly on a self employed basis, via their own limited company or a third party, we can provide the review that suits your clients’ business.
It is always advisable to set out the terms and conditions agreed with subcontractors in a written contract. Not only can this help to avoid misunderstandings and disputes between the parties, but it can also provide a more robust defence against any HMRC challenge.
Whether your client is looking to review any written contracts with its subcontractors, or require a more detailed review of their operations generally, we have the experience to assist them.
We have a wealth of experience defending taxpayers against HMRC investigations. Whether your client has a compliance check, enquiry, or penalty notice, we can provide you with a second opinion, or take over the investigation.
Alternative Dispute Resolution (ADR) is a mediation process open to taxpayers that can be used to facilitate the settlement of a tax dispute where no progress is being made. This might be due to a communication breakdown with HMRC or, as neither side is willing to withdraw from its arguments. We have first-hand experience of ADR and can advise you whether it may be of benefit to your clients’ case.
HMRC’s powers to request information and documentation have increased in recent years. However, HMRC often asks for information it is not statutorily entitled to. If you have received correspondence from HMRC with regard to a client’s compliance check, investigation, or an informal request for information relating to their business, a third party, or a client it is always a good idea to speak to a specialist, such as us, to ensure HMRC is acting within its statutory powers before any action is taken.
Should you require more information about our services, or have a particular tax query you are seeking advice on, get in touch today! Simply fill in the form below and a member of our team will be in touch.
Alternatively, give us a call 01296 488810.
Employment Status – Accountant Support