when it comes to mistakes, ignorance is no defence, so firms have to take every care when completing their returns and ensure that they are on time – in other words, don’t give HMRC any cause for concern.
Guide to... what to do when you lose your tax records
Unforeseen circumstances – such as a fire or flood in your premises – could mean you lose your tax and accounting records. In this guide, we explore what to do if you lose financial records and what help you can expect from HMRC.
Being sued is stressful, time consuming and expensive – three good reasons for settling quickly (or better still putting in safeguards to prevent disputes arising in the first place). But unless you are clearly at fault, or fail to follow the court procedures correctly, the odds are in your favour.