Bricks are nothing without mortar, ensure your procedures cement your 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, and are complying with, your obligations.
Taking specialist advice now could significantly reduce your risk of exposure should you be faced with an HMRC investigation.
We have a wealth of experience both advising clients on proactive mitigation and defending HMRC challenges from enquiry, through to tribunal representation.
If you have any queries or concerns relating to operating within the construction industry, or would like a quote for our services, please do not hesitate to contact us.
We work on a fixed fee basis, agreed in advance, so that you have certainty of the costs involved at each stage.
Are you an Accountant?
Contact us with your construction industry queries, or to get a second opinion. Find out more about Construction Industry – Accountant Support
Do you have written contracts in place with your subcontractor? There are risks associated with any engagement. Whether you are engaging subcontractors directly on a self employed [link to employment status] basis, via their own limited company or a third party, we can provide the review that suits your business.
It is always advisable to set out the terms and conditions agreed with your 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 you are looking to review any written contracts between you and your subcontractors, or require a more detailed review of your operations generally, we have the experience to assist you.
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 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. Ensure HMRC is acting within its statutory powers before any action is taken. Know your CIS obligations to reduce the risk of HMRC issuing penalties.
We have a wealth of experience defending taxpayers against HMRC investigations. Whether you have a compliance check, enquiry, or penalty notice, we can provide you or your accountant with a second opinion, or take over the investigation.
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.
IR35 Specialist services