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Double check HMRC calculation

  • Posted:
  • Proposals: 7
  • Remote
  • #4162820
  • OPPORTUNITY
  • Completed
Tefoor A.Babar A.Rickard LuckinMirza Saad B.Meru Accounting Private Limited + 2 others have already sent a proposal.
  • 3

Description

Experience Level: Expert
I require the expert counsel of a qualified tax advisor to conduct an independent audit of my recent HMRC settlement. HMRC has issued figures for taxes owed stemming from remuneration received through loan schemes in prior years.
As the amounts due including interest seem substantial, I seek confirmation that their calculations and resultant charges are properly justified.
Additionally, HMRC has indicated potential future liabilities and I need guidance on evaluating the legitimacy of these prospective claims.

An experienced tax professional is needed to thoroughly review my financial records for the relevant periods, crosscheck figures against relevant tax laws and regulations, and advise on next steps to either resolve any discrepancies found or develop an action plan to manage expected costs.

Accuracy and compliance are priorities here, so an impartial third-party assessment would provide welcome assurance that I am fulfilling all valid obligations while protecting against potential overcharging. Your tax expertise and independent verification would be much appreciated.

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Clarification Board Ask a Question

  • Tefoor A.

    1. Can you provide detailed information about the remuneration received through loan schemes in prior years?
    2. Do you have copies of the settlement documents issued by HMRC, including figures for taxes owed and any interest charges?
    3. Are there specific periods for which HMRC has issued assessments, or is this a comprehensive review of all prior years?
    4. Have you already made any payments to HMRC based on the settlement figures provided?
    5. Can you provide access to your financial records, including income statements, expense reports, and bank statements, for the relevant periods?
    6. Are there any specific concerns or discrepancies you have identified in the HMRC settlement that you would like me to focus on during the audit?
    7. Have you been in communication with HMRC regarding the settlement, and if so, do you have any correspondence or documentation from them that may be relevant?
    8. Are there any potential future liabilities mentioned by HMRC that you would like me to evaluate during the audit?
    9. Are there any other professionals or advisors involved in managing your tax affairs that I should coordinate with?
    10. Do you have a Gateway ID or any other HMRC credentials that I would need to access your online tax account and review relevant information?

    Mustafa G.14 Feb 2024

    1. Can you provide detailed information about the remuneration received through loan schemes in prior years?
    Bank statements of the amounts received
    2. Do you have copies of the settlement documents issued by HMRC, including figures for taxes owed and any interest charges?
    Yes
    3. Are there specific periods for which HMRC has issued assessments, or is this a comprehensive review of all prior years?
    All rolled into 2018/19
    4. Have you already made any payments to HMRC based on the settlement figures provided?
    No
    5. Can you provide access to your financial records, including income statements, expense reports, and bank statements, for the relevant periods?
    Partially
    6. Are there any specific concerns or discrepancies you have identified in the HMRC settlement that you would like me to focus on during the audit?
    No
    7. Have you been in communication with HMRC regarding the settlement, and if so, do you have any correspondence or documentation from them that may be relevant?
    Not replied to their settlement offer yet
    8. Are there any potential future liabilities mentioned by HMRC that you would like me to evaluate during the audit?
    Yes a future charge if loan isn’t repaid
    9. Are there any other professionals or advisors involved in managing your tax affairs that I should coordinate with?
    No
    10. Do you have a Gateway ID or any other HMRC credentials that I would need to access your online tax account and review relevant information?
    Yes