What is an HMRC Audit?
An audit from HMRC, also known as a tax audit or tax inspection, is a review of your business’ tax affairs. HMRC will inform you or your accountant by letter if your business is to be audited. As specialists in supporting businesses through the HMRC auditing process, our experts will help you prepare, attend the audit and provide advice once you receive the results of your inspection.
Our corporate accountant services simplify the complex to help you understand your obligations every step of the way. During an inspection, HMRC may review the following:
- Any taxes you pay
- Self-Assessment tax returns
- Company tax returns
- Accounts and tax calculations
- PAYE records and returns
Simplify HMRC Audits with Prime Accountants
It’s our highly-skilled team, personalised approach and attention to detail that sets Prime’s corporate accountant services apart. Our specialist team of high-calibre accountants support and guide more than 80 clients through their HMRC audits every year.
Our experts are highly skilled and highly knowledgeable, with extensive experience in preparing businesses of every size for audits. In fact, Prime go above and beyond for our clients by using your audit as an opportunity to gain fresh insight into your business.
Who Does HMRC Audit?
While the majority of HMRC audits are just a formality, you are more likely to be audited if there are inconsistencies in your returns, your returns are consistently filed late or if you are suspected of underpaying tax.
If your business operates in an industry that HMRC considers to be high risk – with most payments made in cash, for example – then you are more likely to be audited. Generally, businesses can expect an audit once every five years.
Cut Through the Jargon of Audits
Are you looking for support to help you prepare your records for an HMRC audit? Our team of specialists are here to help. Contact us today to find out how we can simplify the complex for you or learn more about our corporate accountant services, including audits, regulation and tax planning.
What our self-assessment clients say
“It has been a pleasure working with you over the years. I have always known our payroll is in very safe hands. Naturally, I would be very happy to recommend you to any other organisations in future, should they need payroll support.”
“We’ve been using Prime Accountant’s for our payroll services and couldn’t be happier. Their process is efficient, always on time, and they communicate clearly every step of the way.”
“We have been clients of Prime Accountants for many years and have always found them to be most helpful, highly efficient and communicative. In particular, we have regular dealings with their Payroll department, which, through the services of Prime, runs perfectly for us.”
Our Specialist Sectors
Prime Accountants excels in serving diverse industries with tailored financial expertise. Our specialists navigate the unique challenges of each sector, offering precision in accounting, taxation, and advisory services. With a deep understanding of industry dynamics, we ensure that our clients receive strategic financial guidance that aligns with the specific needs and goals of their business. From healthcare to technology, manufacturing to hospitality, Prime Accountants is your trusted partner for comprehensive financial solutions, propelling businesses toward sustained success in their respective industries.
Who We work with
Prime Accountants offers versatile support for businesses of all types and sizes. They optimise financial processes, manage tax intricacies, ensure compliance and provide strategic insights, fostering financial health, efficiency and sustained success across diverse business landscapes.
