Failure to handle tax issues promptly and properly creates additional debt and worry for millions of people every year.
In 2019 it was estimated that over twenty million people owed HMRC tax revenue of one description or another and over ten million individuals failed to file the required Return.
Many who do attempt to comply with their obligations accidentally under report income thereby attracting, at the least, onerous penalties for their actions.
Those who deliberately seek to avoid payment of all or any part of their debt to HMRC face serious consequences when caught in the form of substantial financial penalties and, in the most serious cases, imprisonment.
Much of this stress, anxiety and incurrence of needless financial penalties can be avoided simply by seeking guidance from tax experts.
Tim Thompson, Head of Tax at Kangs Solicitors, outlines some of the reasons why it is always prudent to consult a tax solicitor should you require administrative assistance of any nature, however minor, or face or anticipate being faced with any more substantial issue involving HMRC, whether it affects your personal tax position or that of your company or firm.
Kangs Solicitors is a highly commended firm which has attracted high praise from the leading Legal Directories Chambers and Partners and the Legal 500. Members of the Team are available to speak to you at any of the following offices:
How Can We Help You? | Kangs Solicitors Tax Team
Provision of Guidance and Experience
Tax law, at virtually every level, is highly complex, confusing and is constantly changing and tax solicitors are specifically trained to constantly monitor such movements in order to properly advise and guide clients upon their obligations and duties.
Up to the minute advice can be highly beneficial for any business enabling strategic planning of finances and business management.
Those considering setting up a new business or expanding an existing enterprise would be well advised to consider potential taxation implications from every angle including, for example, any opportunities to offset income in order to become tax efficient.
HMRC tax investigation solicitors understand the nuances of local laws and regulations and can advise upon how to proceed in any situation which may arise.
Cost Effective Administrative Help and Guidance
Completing documents such as tax forms and examining legal fine print are, at best, time consuming, and confusing and any errors caused by a misunderstanding can result in serious financial consequences.
Such errors may result in considerable time being expended and expensive procedures having to be followed in order to correct the situation, all of which may well have been avoidable by calling upon expert assistance from the outset.
Audits and Investigations
Financial audits are frequently conducted by the tax authorities arising from many preventable issues such as mistakes resulting from misinterpretation of tax laws and applying incorrect tax codes.
Again, unnecessary costs arising from such mistakes may be avoided by appropriate expert guidance from the outset.
Tax disputes with HMRC are frequently very time consuming, technical and complex involving production of substantial trading records such as receipts, invoices, delivery notes etc.
Whilst many such disputes result in acrimonious formal proceedings and, ultimately, Tribunal Hearings, an experienced and sensitive handling of such an issue may well result in an acceptable satisfactory conclusion being achieved, thereby avoiding potentially substantial dispute costs.
The Team at Kangs Solicitors is highly experienced assisting clients faced with tax issues and disputes of every conceivable nature including:
Who Can I Contact for Help? | Kangs National Tax Solicitors
If you require advice and guidance in respect of any matter raised in this article or any other tax issue, the team at Kangs Solicitors will be happy to provide expert help and advice.
Please do not hesitate to contact our team through any of the following: