We have represented many businesses and individuals who have been the subject of tax enquiries. Our experience tells us that the key to success is good accounting records. If you do not keep good records most of the power is with the Inland Revenue. If your records are not good the Inland Revenue have the power to raise assessments for additional income and the onus is on the taxpayer to disprove rather than the Inland Revenue to prove. If the taxpayers records are not good this can be very difficult.
Click on the link to read what records you are legally obliged to keep if you are an individual or a director (i.e not self employed). We will publish a further article shortly with advice on record keeping if you are self employed.
Using a good advisor will of course increase your chances of success in a tax enquiry. We have been very successful in defending clients who have been the subject of tax enquiries and if you need further advice please contact us.
