Beware the market research call from HMRC

You might find that you get a call directly from the HMRC ostensibly on the grounds of “market research” even though you have appointed an accountant as your agent.

If you do get one of these call be cautious about what you say. Under normal circumstances HMRC are required to make representations to your agent regarding your tax affairs or issue a formal notice stating their intention to undertake an enquiry.

These market research calls appear to be being used as unofficial “fishing expeditions” to uncover reasons for undertaking an inspection. An inspection is likely to result in a cost in your time and professional fees so it is to be avoided if possible.

Lewis Smith & Co. does offer professional fee protection insurance but in the first instance we’d just like to keep you out of trouble!

Lewis Smith & Co. – Audit services for Dudley businesses